Caisse DE Depot ET Placement DU Quebec Purchases 253,400 Shares of Genuine Parts (NYSE:GPC)

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Genuine Parts (NYSE:GPC) by 1,038.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,802 shares of the specialty retailer’s stock after acquiring an additional 253,400 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Genuine Parts were worth $38,803,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in shares of Genuine Parts during the third quarter worth $26,000. Capital Performance Advisors LLP purchased a new stake in Genuine Parts in the 3rd quarter worth $31,000. Concord Wealth Partners boosted its holdings 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 valued at $38,000 after purchasing an additional 119 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of Genuine Parts during the second quarter valued at about $40,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Genuine Parts in the third quarter worth about $44,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GPC has been the subject of several research analyst reports. The Goldman Sachs Group cut their price target on Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Evercore ISI raised their target price on shares of Genuine Parts from $155.00 to $160.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd. Truist Financial lowered their price objective on shares of Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Wedbush reduced their target price 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. Finally, UBS Group lowered their price target on shares of Genuine Parts from $145.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Genuine Parts presently has a consensus rating of “Hold” and an average target price of $139.57.

Genuine Parts Stock Performance

Genuine Parts stock opened at $126.73 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. The firm has a market capitalization of $17.62 billion, a P/E ratio of 16.31 and a beta of 0.92. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The company’s 50-day moving average is $128.43 and its 200 day moving average is $136.28.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share 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 business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same quarter in the previous year, the company posted $2.49 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts forecast that Genuine Parts will post 8.09 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 6th will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, December 6th. Genuine Parts’s dividend payout ratio is currently 51.48%.

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.