Osaic Holdings Inc. Increases Stock Position in Genuine Parts Company $GPC

Osaic Holdings Inc. grew its stake in Genuine Parts Company (NYSE:GPC) by 29.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 79,838 shares of the specialty retailer’s stock after acquiring an additional 18,363 shares during the period. Osaic Holdings Inc. owned about 0.06% of Genuine Parts worth $9,665,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its holdings in Genuine Parts by 8,833.3% in the 2nd quarter. Golden State Wealth Management LLC now owns 268 shares of the specialty retailer’s stock valued at $33,000 after purchasing an additional 265 shares during the last quarter. Concord Wealth Partners grew its stake in shares of Genuine Parts by 148.7% in the second quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock valued at $36,000 after buying an additional 177 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Genuine Parts by 7,825.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after buying an additional 313 shares during the period. Cromwell Holdings LLC raised its holdings in shares of Genuine Parts by 49.1% in the 2nd quarter. Cromwell Holdings LLC now owns 346 shares of the specialty retailer’s stock valued at $42,000 after buying an additional 114 shares during the period. Finally, Quaker Wealth Management LLC lifted its stake in Genuine Parts by 11,533.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock worth $42,000 after acquiring an additional 346 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.3%

Shares of Genuine Parts stock opened at $125.49 on Friday. The company has a quick ratio of 0.51, a current ratio of 1.14 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 52-week low of $104.01 and a 52-week high of $143.48. The company has a market capitalization of $17.46 billion, a P/E ratio of 21.60 and a beta of 0.74. The company has a 50 day moving average of $129.05 and a 200 day moving average of $130.82.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings data on Tuesday, October 21st. The specialty retailer reported $1.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.02 by ($0.04). The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.12 billion. Genuine Parts had a net margin of 3.36% and a return on equity of 22.57%. Genuine Parts’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 earnings per share. Genuine Parts has set its FY 2025 guidance at 7.500-7.750 EPS. As a group, research analysts forecast that Genuine Parts Company will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Friday, December 5th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, December 5th. Genuine Parts’s dividend payout ratio is currently 70.91%.

Insider Activity at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the sale, the executive vice president owned 26,112 shares of the company’s stock, valued at approximately $3,606,589.44. This trade represents a 16.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Truist Financial lifted their price objective on shares of Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Genuine Parts in a research note on Wednesday. Evercore ISI raised their price target on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Finally, UBS Group boosted their price target on shares of Genuine Parts from $135.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Genuine Parts currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Profile

Genuine Parts Company (NYSE: GPC) is a global distributor of automotive replacement parts, industrial parts and business products with a history dating back to 1928. Headquartered in Atlanta, Georgia, the company operates a broad distribution network and retail presence serving repair shops, independent retailers, industrial customers and commercial accounts. Its business model centers on stocking and delivering a wide range of parts and supplies to support aftermarket and maintenance needs across multiple end markets.

Genuine Parts conducts its operations through several well-known operating groups and subsidiaries.