Fjarde AP Fonden Fourth Swedish National Pension Fund Raises Stock Holdings in Genuine Parts Company $GPC

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Genuine Parts Company (NYSE:GPC) by 26.2% in the third quarter, Holdings Channel reports. The institutional investor owned 21,762 shares of the specialty retailer’s stock after acquiring an additional 4,522 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Genuine Parts were worth $3,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GPC. Quadcap Wealth Management LLC lifted its holdings in Genuine Parts by 1.4% during the second quarter. Quadcap Wealth Management LLC now owns 5,578 shares of the specialty retailer’s stock valued at $677,000 after purchasing an additional 75 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in Genuine Parts by 12.2% in the 2nd quarter. Penserra Capital Management LLC now owns 747 shares of the specialty retailer’s stock worth $90,000 after buying an additional 81 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in Genuine Parts by 3.3% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 2,577 shares of the specialty retailer’s stock worth $313,000 after buying an additional 82 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Genuine Parts by 1.8% during the second quarter. Diversified Trust Co now owns 4,636 shares of the specialty retailer’s stock valued at $562,000 after acquiring an additional 83 shares during the last quarter. Finally, Brown Lisle Cummings Inc. lifted its position in shares of Genuine Parts by 5.7% in the second quarter. Brown Lisle Cummings Inc. now owns 1,541 shares of the specialty retailer’s stock valued at $187,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Price Performance

GPC opened at $136.80 on Monday. The stock’s 50-day moving average price is $127.82 and its 200 day moving average price is $131.54. The company has a current ratio of 1.14, a quick ratio of 0.51 and a debt-to-equity ratio of 0.78. Genuine Parts Company has a 12-month low of $104.01 and a 12-month high of $143.48. The firm has a market cap of $19.03 billion, a price-to-earnings ratio of 23.55 and a beta of 0.75.

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

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 5th. Stockholders of record on Friday, December 5th were paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Friday, December 5th. Genuine Parts’s payout ratio is 70.91%.

Analyst Ratings Changes

Several research firms recently commented on GPC. Truist Financial increased their price objective on Genuine Parts from $143.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. JPMorgan Chase & Co. upped their target price on shares of Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a research report on Monday, December 29th. 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 report on Friday, October 10th. Finally, Evercore ISI upped their price objective on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

About Genuine Parts

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.