Equity Investment Corp Purchases 5,955 Shares of Genuine Parts Company $GPC

Equity Investment Corp grew its holdings in shares of Genuine Parts Company (NYSE:GPC) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 749,713 shares of the specialty retailer’s stock after purchasing an additional 5,955 shares during the quarter. Genuine Parts makes up approximately 2.2% of Equity Investment Corp’s holdings, making the stock its 22nd biggest position. Equity Investment Corp owned about 0.54% of Genuine Parts worth $103,910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Peoples Financial Services CORP. purchased a new position in shares of Genuine Parts during the 3rd quarter worth $29,000. Golden State Wealth Management LLC raised 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 worth $33,000 after purchasing an additional 265 shares during the period. Concord Wealth Partners raised its holdings in Genuine Parts by 148.7% in the 2nd quarter. Concord Wealth Partners now owns 296 shares of the specialty retailer’s stock worth $36,000 after purchasing an additional 177 shares during the period. Hantz Financial Services Inc. lifted its position in Genuine Parts by 7,825.0% during the second quarter. Hantz Financial Services Inc. now owns 317 shares of the specialty retailer’s stock valued at $38,000 after purchasing an additional 313 shares in the last quarter. Finally, Quaker Wealth Management LLC grew its holdings in Genuine Parts by 11,533.3% during the second quarter. Quaker Wealth Management LLC now owns 343 shares of the specialty retailer’s stock valued at $42,000 after purchasing an additional 346 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 1.1%

Genuine Parts stock opened at $142.88 on Wednesday. Genuine Parts Company has a 1 year low of $104.01 and a 1 year high of $145.20. The firm’s 50 day moving average price is $130.59 and its 200-day moving average price is $132.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.14 and a quick ratio of 0.51. The stock has a market cap of $19.88 billion, a P/E ratio of 24.59 and a beta of 0.74.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 5th. Shareholders of record on Friday, December 5th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s dividend payout ratio is 70.91%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. Truist Financial increased their target price on shares of Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report on Tuesday, October 21st. The Goldman Sachs Group upgraded shares of Genuine Parts from a “sell” rating to a “neutral” rating and raised their target price for the stock from $130.00 to $142.00 in a research note on Thursday, November 13th. JPMorgan Chase & Co. lifted their price target on shares of Genuine Parts from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Finally, UBS Group increased their price objective 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 three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Genuine Parts Company 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.