Wulff Hansen & CO. Has $1.31 Million Stock Holdings in Genuine Parts (NYSE:GPC)

Wulff Hansen & CO. lessened its position in shares of Genuine Parts (NYSE:GPC) by 1.1% during the 4th quarter, HoldingsChannel reports. The fund owned 11,175 shares of the specialty retailer’s stock after selling 125 shares during the quarter. Genuine Parts accounts for about 1.2% of Wulff Hansen & CO.’s investment portfolio, making the stock its 24th largest holding. Wulff Hansen & CO.’s holdings in Genuine Parts were worth $1,305,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GPC. CIBC Asset Management Inc lifted its stake in shares of Genuine Parts by 7.1% during the third quarter. CIBC Asset Management Inc now owns 23,768 shares of the specialty retailer’s stock valued at $3,320,000 after acquiring an additional 1,572 shares during the period. Royce & Associates LP lifted its stake in Genuine Parts by 8.7% in the third quarter. Royce & Associates LP now owns 12,500 shares of the specialty retailer’s stock valued at $1,746,000 after buying an additional 1,000 shares during the period. Empowered Funds LLC boosted its holdings in Genuine Parts by 160.7% during the third quarter. Empowered Funds LLC now owns 25,977 shares of the specialty retailer’s stock worth $3,628,000 after buying an additional 16,013 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Genuine Parts by 16.4% during the third quarter. Natixis Advisors LLC now owns 121,103 shares of the specialty retailer’s stock worth $16,916,000 after buying an additional 17,026 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its holdings in Genuine Parts by 2.5% during the third quarter. Meeder Advisory Services Inc. now owns 6,028 shares of the specialty retailer’s stock worth $842,000 after buying an additional 148 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial raised their target price on Genuine Parts from $129.00 to $133.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Loop Capital assumed coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 target price on the stock. Northcoast Research cut Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. Finally, Evercore ISI reduced their target price on Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Genuine Parts has an average rating of “Hold” and an average target price of $137.63.

Genuine Parts Trading Up 0.4 %

NYSE:GPC opened at $123.98 on Wednesday. The business’s 50-day simple moving average is $120.68 and its 200-day simple moving average is $125.03. Genuine Parts has a fifty-two week low of $112.74 and a fifty-two week high of $164.45. The stock has a market capitalization of $17.21 billion, a PE ratio of 19.16 and a beta of 0.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.16 and a quick ratio of 0.57.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.07. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.71 billion. During the same quarter last year, the firm earned $2.26 EPS. Sell-side analysts expect that Genuine Parts will post 7.9 earnings per share for the current fiscal year.

Genuine Parts Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Genuine Parts’s previous quarterly dividend of $1.00. Genuine Parts’s dividend payout ratio (DPR) is currently 63.68%.

Genuine Parts Company 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.