Pine Valley Investments Ltd Liability Co Boosts Position in Genuine Parts (NYSE:GPC)

Pine Valley Investments Ltd Liability Co grew its position in Genuine Parts (NYSE:GPC) by 16.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,075 shares of the specialty retailer’s stock after buying an additional 3,813 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Genuine Parts were worth $3,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in Genuine Parts during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new stake in shares of Genuine Parts in the third quarter valued at approximately $31,000. Concord Wealth Partners increased its stake in shares of Genuine Parts by 79.3% during the 3rd quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after purchasing an additional 119 shares in the last quarter. Triad Wealth Partners LLC acquired a new position in shares of Genuine Parts during the 2nd quarter worth approximately $40,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Genuine Parts in the third quarter worth $44,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Genuine Parts Trading Down 1.9 %

GPC stock opened at $123.00 on Thursday. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 15.83 and a beta of 0.94. The business has a fifty day simple moving average of $126.15 and a 200-day simple moving average of $134.86. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The firm had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter last year, the business earned $2.49 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts expect that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be given a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, December 6th. Genuine Parts’s payout ratio is currently 51.48%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. The Goldman Sachs Group decreased their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Wedbush cut their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Redburn Atlantic raised Genuine Parts to a “hold” rating in a research note on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.