PGGM Investments Cuts Position in Genuine Parts (NYSE:GPC)

PGGM Investments lowered its holdings in shares of Genuine Parts (NYSE:GPC) by 11.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,561 shares of the specialty retailer’s stock after selling 719 shares during the quarter. PGGM Investments’ holdings in Genuine Parts were worth $769,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Genuine Parts in the 4th quarter valued at $215,643,000. Stifel Financial Corp grew its position in shares of Genuine Parts by 27.0% in the fourth quarter. Stifel Financial Corp now owns 2,029,388 shares of the specialty retailer’s stock valued at $281,078,000 after purchasing an additional 431,623 shares during the period. DAVENPORT & Co LLC increased its stake in shares of Genuine Parts by 3,029.9% during the first quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock worth $58,999,000 after purchasing an additional 368,470 shares in the last quarter. Morningstar Investment Services LLC raised its position in shares of Genuine Parts by 161.2% during the 4th quarter. Morningstar Investment Services LLC now owns 578,555 shares of the specialty retailer’s stock worth $80,066,000 after purchasing an additional 357,091 shares during the last quarter. Finally, Natixis raised its position in shares of Genuine Parts by 768.4% during the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock worth $49,014,000 after purchasing an additional 279,930 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Trading Up 0.3 %

Shares of NYSE GPC traded up $0.35 during trading on Wednesday, hitting $137.20. 451,698 shares of the company were exchanged, compared to its average volume of 1,018,306. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.54 and a current ratio of 1.12. The company has a fifty day moving average price of $139.04 and a 200-day moving average price of $146.33. Genuine Parts has a 12-month low of $126.35 and a 12-month high of $164.45. The firm has a market capitalization of $19.11 billion, a PE ratio of 15.30 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last released its quarterly earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). Genuine Parts had a net margin of 5.24% and a return on equity of 30.03%. The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.03 billion. During the same period in the previous year, the firm posted $2.44 EPS. The firm’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that Genuine Parts will post 9.36 EPS for the current year.

Insider Activity at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. UBS Group dropped their price target on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, July 3rd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Wedbush reduced their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $161.14.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.