EverSource Wealth Advisors LLC Reduces Stock Holdings in Genuine Parts (NYSE:GPC)

EverSource Wealth Advisors LLC decreased its holdings in Genuine Parts (NYSE:GPC) by 25.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 578 shares of the specialty retailer’s stock after selling 193 shares during the period. EverSource Wealth Advisors LLC’s holdings in Genuine Parts were worth $67,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its stake in Genuine Parts by 21.5% in the fourth quarter. HighTower Advisors LLC now owns 127,872 shares of the specialty retailer’s stock worth $14,930,000 after acquiring an additional 22,585 shares during the period. Wealthfront Advisers LLC lifted its stake in Genuine Parts by 796.3% in the fourth quarter. Wealthfront Advisers LLC now owns 66,290 shares of the specialty retailer’s stock worth $7,740,000 after acquiring an additional 58,894 shares during the period. Avantax Planning Partners Inc. lifted its stake in Genuine Parts by 2.9% in the fourth quarter. Avantax Planning Partners Inc. now owns 16,190 shares of the specialty retailer’s stock worth $1,890,000 after acquiring an additional 450 shares during the period. Inspire Advisors LLC raised its holdings in Genuine Parts by 13.2% in the fourth quarter. Inspire Advisors LLC now owns 4,217 shares of the specialty retailer’s stock worth $492,000 after purchasing an additional 491 shares in the last quarter. Finally, River Road Asset Management LLC raised its holdings in Genuine Parts by 26.3% in the fourth quarter. River Road Asset Management LLC now owns 230,193 shares of the specialty retailer’s stock worth $26,877,000 after purchasing an additional 47,987 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

Shares of NYSE:GPC opened at $124.72 on Thursday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57. The business has a fifty day moving average price of $120.84 and a 200-day moving average price of $125.03. The company has a market capitalization of $17.31 billion, a PE ratio of 19.28 and a beta of 0.93.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The firm had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same period last year, the company earned $2.26 earnings per share. As a group, equities analysts expect that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Genuine Parts’s previous quarterly dividend of $1.00. This represents a $4.12 annualized dividend and a dividend yield of 3.30%. Genuine Parts’s dividend payout ratio (DPR) is 63.68%.

Analyst Upgrades and Downgrades

GPC has been the subject of a number of research reports. Loop Capital initiated coverage on Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price objective for the company. Northcoast Research downgraded Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Evercore ISI decreased their price objective on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating for the company in a report on Wednesday, February 19th. Finally, Truist Financial increased their price objective on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.63.

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.