Marcum Wealth LLC Buys 453 Shares of Genuine Parts (NYSE:GPC)

Marcum Wealth LLC raised its stake in Genuine Parts (NYSE:GPC) by 13.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,776 shares of the specialty retailer’s stock after purchasing an additional 453 shares during the quarter. Marcum Wealth LLC’s holdings in Genuine Parts were worth $585,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Bruce G. Allen Investments LLC boosted its stake in shares of Genuine Parts by 149.0% during the 1st quarter. Bruce G. Allen Investments LLC now owns 254 shares of the specialty retailer’s stock worth $39,000 after acquiring an additional 152 shares during the period. Czech National Bank boosted its stake in shares of Genuine Parts by 0.5% during the 1st quarter. Czech National Bank now owns 24,667 shares of the specialty retailer’s stock worth $3,822,000 after acquiring an additional 112 shares during the period. First Hawaiian Bank boosted its stake in shares of Genuine Parts by 73.6% during the 1st quarter. First Hawaiian Bank now owns 6,726 shares of the specialty retailer’s stock worth $1,042,000 after acquiring an additional 2,851 shares during the period. Butensky & Cohen Financial Security Inc. boosted its stake in shares of Genuine Parts by 3.2% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 27,741 shares of the specialty retailer’s stock worth $4,298,000 after acquiring an additional 873 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Genuine Parts by 14.1% during the 1st quarter. GAMMA Investing LLC now owns 1,333 shares of the specialty retailer’s stock worth $207,000 after acquiring an additional 165 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GPC has been the subject of several research analyst reports. StockNews.com upgraded Genuine Parts from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. Truist Financial lifted their price target on Genuine Parts from $167.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Evercore ISI lifted their price target on Genuine Parts from $160.00 to $165.00 and gave the stock an “in-line” rating in a report on Thursday. Wedbush reissued a “neutral” rating and set a $170.00 price target (up from $140.00) on shares of Genuine Parts in a report on Friday, April 19th. Finally, Jefferies Financial Group lifted their price target on Genuine Parts from $150.00 to $170.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Genuine Parts has a consensus rating of “Hold” and a consensus price target of $172.44.

Insider Transactions at Genuine Parts

In other news, Director Wendy B. Needham sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $151.29, for a total transaction of $453,870.00. Following the completion of the transaction, the director now owns 13,006 shares of the company’s stock, valued at approximately $1,967,677.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is owned by insiders.

Genuine Parts Price Performance

Shares of NYSE GPC opened at $141.39 on Friday. The stock has a market capitalization of $19.70 billion, a PE ratio of 15.76 and a beta of 0.92. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 0.59. The business has a fifty day moving average price of $149.77 and a two-hundred day moving average price of $146.30. Genuine Parts has a fifty-two week low of $126.35 and a fifty-two week high of $170.57.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $2.22 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.07. Genuine Parts had a return on equity of 30.92% and a net margin of 5.46%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.84 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. Genuine Parts’s revenue was up .3% on a year-over-year basis. As a group, equities analysts predict that Genuine Parts will post 9.92 earnings per share for the current fiscal year.

Genuine Parts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.83%. Genuine Parts’s dividend payout ratio (DPR) is currently 44.59%.

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.