Hamlin Capital Management LLC Grows Position in Genuine Parts (NYSE:GPC)

Hamlin Capital Management LLC increased its holdings in shares of Genuine Parts (NYSE:GPC) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,075 shares of the specialty retailer’s stock after buying an additional 64,520 shares during the period. Genuine Parts comprises approximately 2.1% of Hamlin Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Hamlin Capital Management LLC owned approximately 0.42% of Genuine Parts worth $82,561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GPC. Wulff Hansen & CO. lifted its position in shares of Genuine Parts by 13,732.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,566,474 shares of the specialty retailer’s stock valued at $216,675,000 after buying an additional 1,555,149 shares in the last quarter. International Assets Investment Management LLC raised its stake in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer’s stock valued at $81,621,000 after purchasing an additional 580,262 shares during the last quarter. DAVENPORT & Co LLC raised its stake in Genuine Parts by 3,029.9% in the 1st quarter. DAVENPORT & Co LLC now owns 380,631 shares of the specialty retailer’s stock valued at $58,999,000 after purchasing an additional 368,470 shares during the last quarter. Boston Trust Walden Corp acquired a new position in Genuine Parts in the 3rd quarter valued at $39,474,000. Finally, Natixis raised its stake in Genuine Parts by 768.4% in the 1st quarter. Natixis now owns 316,359 shares of the specialty retailer’s stock valued at $49,014,000 after purchasing an additional 279,930 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Stock Up 1.0 %

Shares of GPC opened at $114.24 on Friday. Genuine Parts has a 52-week low of $112.74 and a 52-week high of $164.45. The company has a market capitalization of $15.92 billion, a PE ratio of 14.70 and a beta of 0.90. The stock has a fifty day simple moving average of $137.22 and a two-hundred day simple moving average of $142.12. The company has a quick ratio of 0.54, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). The business had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.49 earnings per share. As a group, equities analysts forecast that Genuine Parts will post 8.1 EPS for the current year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, September 6th. Genuine Parts’s payout ratio is 51.48%.

Analyst Ratings Changes

Several research analysts recently commented on GPC shares. Wedbush reduced their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday. UBS Group reduced their price objective on Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research note on Wednesday. The Goldman Sachs Group reduced their price objective on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI raised their target price on Genuine Parts from $155.00 to $160.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial cut their target price on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $139.57.

About Genuine Parts

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.