Venturi Wealth Management LLC Raises Stock Position in Genuine Parts (NYSE:GPC)

Venturi Wealth Management LLC lifted its stake in shares of Genuine Parts (NYSE:GPC) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,424 shares of the specialty retailer’s stock after acquiring an additional 326 shares during the quarter. Venturi Wealth Management LLC’s holdings in Genuine Parts were worth $1,177,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Genuine Parts during the third quarter worth approximately $26,000. Capital Performance Advisors LLP purchased a new position in shares of Genuine Parts during the third quarter worth approximately $31,000. Concord Wealth Partners increased its position in shares of Genuine Parts by 79.3% during the third quarter. Concord Wealth Partners now owns 269 shares of the specialty retailer’s stock worth $38,000 after acquiring an additional 119 shares during the period. Triad Wealth Partners LLC purchased a new position in Genuine Parts during the second quarter valued at approximately $40,000. Finally, Catalyst Capital Advisors LLC purchased a new position in Genuine Parts during the third quarter valued at approximately $44,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Price Performance

NYSE GPC opened at $122.36 on Tuesday. The firm’s fifty day simple moving average is $132.05 and its two-hundred day simple moving average is $139.31. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. Genuine Parts has a 12-month low of $112.74 and a 12-month high of $164.45. The firm has a market capitalization of $17.01 billion, a P/E ratio of 15.75 and a beta of 0.92.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the firm posted $2.49 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts forecast that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $4.00 annualized dividend and a dividend yield of 3.27%. Genuine Parts’s payout ratio is currently 51.48%.

Wall Street Analysts Forecast Growth

GPC has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. The Goldman Sachs Group cut their price objective on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Wednesday, October 16th. UBS Group cut their price objective on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Finally, Wedbush cut their price objective on shares of Genuine Parts from $145.00 to $120.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $139.57.

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.