PGGM Investments Sells 708 Shares of Genuine Parts (NYSE:GPC)

PGGM Investments lessened its stake in shares of Genuine Parts (NYSE:GPC) by 10.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,280 shares of the specialty retailer’s stock after selling 708 shares during the period. PGGM Investments’ holdings in Genuine Parts were worth $973,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GPC. Assetmark Inc. boosted its holdings in shares of Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after buying an additional 96 shares during the last quarter. WD Rutherford LLC bought a new stake in Genuine Parts during the first quarter worth $26,000. Union Savings Bank lifted its stake in Genuine Parts by 100.0% in the first quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock valued at $31,000 after acquiring an additional 100 shares during the last quarter. Thompson Investment Management Inc. bought a new position in shares of Genuine Parts in the 1st quarter valued at about $35,000. Finally, Stephens Consulting LLC increased its stake in shares of Genuine Parts by 740.7% during the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 200 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.7 %

GPC stock opened at $142.52 on Friday. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The stock has a market capitalization of $19.86 billion, a price-to-earnings ratio of 15.89 and a beta of 0.92. The business’s fifty day moving average price is $139.87 and its two-hundred day moving average price is $146.55.

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 analysts’ consensus estimates of $2.59 by ($0.15). The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. Genuine Parts’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. On average, equities analysts anticipate that Genuine Parts will post 9.36 earnings per share for the current year.

Insider Activity

In related news, Director Wendy B. Needham sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the sale, the director now owns 13,006 shares of the company’s stock, valued at $1,967,677.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GPC has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on shares of Genuine Parts from $150.00 to $170.00 and gave the company a “hold” rating in a research note on Friday, April 19th. UBS Group reduced their target price on Genuine Parts from $165.00 to $150.00 and set a “neutral” rating for the company in a research note on Wednesday, July 3rd. Wedbush dropped their price target on Genuine Parts from $170.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Truist Financial cut their price target on Genuine Parts from $183.00 to $164.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Finally, Evercore ISI decreased their price objective on shares of Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.