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

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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hantz Financial Services Inc. increased its position in Genuine Parts by 25.9% in the third quarter. Hantz Financial Services Inc. now owns 399 shares of the specialty retailer’s stock worth $55,000 after purchasing an additional 82 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Genuine Parts by 4.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 549,830 shares of the specialty retailer’s stock worth $76,206,000 after buying an additional 21,820 shares in the last quarter. Pinnacle West Asset Management Inc. grew its stake in shares of Genuine Parts by 1.6% in the 3rd quarter. Pinnacle West Asset Management Inc. now owns 7,450 shares of the specialty retailer’s stock worth $1,033,000 after buying an additional 115 shares in the last quarter. Telos Capital Management Inc. increased its holdings in shares of Genuine Parts by 0.9% in the 3rd quarter. Telos Capital Management Inc. now owns 41,909 shares of the specialty retailer’s stock worth $5,809,000 after buying an additional 388 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC raised its position in shares of Genuine Parts by 87.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,453 shares of the specialty retailer’s stock valued at $482,000 after buying an additional 1,615 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial increased their price target 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 Monday, December 29th. JPMorgan Chase & Co. lifted their target price on Genuine Parts from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. UBS Group increased their price target on Genuine Parts from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, The Goldman Sachs Group upgraded Genuine Parts from a “sell” rating to a “neutral” rating and raised their price target for the stock from $130.00 to $142.00 in a research report on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $148.00.

Genuine Parts Trading Up 1.1%

Shares of NYSE GPC opened at $142.88 on Wednesday. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $145.20. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.51 and a current ratio of 1.14. The company has a market cap of $19.88 billion, a price-to-earnings ratio of 24.59 and a beta of 0.74. The business’s 50 day moving average price is $130.59 and its 200-day moving average price is $132.67.

Genuine Parts Dividend Announcement

The business also recently announced 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 2.9%. The ex-dividend date of this dividend was Friday, December 5th. Genuine Parts’s payout ratio is currently 70.91%.

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.