Wright Investors Service Inc. Acquires 438 Shares of Genuine Parts (NYSE:GPC)

Wright Investors Service Inc. increased its holdings in Genuine Parts (NYSE:GPC) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,609 shares of the specialty retailer’s stock after acquiring an additional 438 shares during the quarter. Wright Investors Service Inc.’s holdings in Genuine Parts were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of GPC. Conning Inc. increased its stake in Genuine Parts by 3.5% during the 1st quarter. Conning Inc. now owns 2,959 shares of the specialty retailer’s stock valued at $331,000 after purchasing an additional 100 shares in the last quarter. 6 Meridian increased its stake in Genuine Parts by 2.2% during the 2nd quarter. 6 Meridian now owns 5,013 shares of the specialty retailer’s stock valued at $519,000 after purchasing an additional 106 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its stake in Genuine Parts by 1.8% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 6,331 shares of the specialty retailer’s stock valued at $656,000 after purchasing an additional 113 shares in the last quarter. Tdam USA Inc. increased its stake in Genuine Parts by 1.7% during the 2nd quarter. Tdam USA Inc. now owns 6,932 shares of the specialty retailer’s stock valued at $718,000 after purchasing an additional 114 shares in the last quarter. Finally, World Asset Management Inc increased its stake in Genuine Parts by 1.0% during the 2nd quarter. World Asset Management Inc now owns 11,692 shares of the specialty retailer’s stock valued at $1,211,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 76.85% of the company’s stock.

Shares of NYSE GPC traded down $0.05 during trading on Thursday, reaching $88.87. 9,543 shares of the company traded hands, compared to its average volume of 972,276. The firm’s 50 day moving average price is $98.80. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.26 and a quick ratio of 0.68. The stock has a market capitalization of $13.02 billion, a PE ratio of 15.66, a PEG ratio of 3.05 and a beta of 0.92. Genuine Parts has a 52-week low of $88.62 and a 52-week high of $115.20.

Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, July 18th. The specialty retailer reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.08). The company had revenue of $4.93 billion for the quarter, compared to analysts’ expectations of $5 billion. Genuine Parts had a net margin of 4.17% and a return on equity of 23.16%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.59 EPS. As a group, equities research analysts forecast that Genuine Parts will post 5.7 EPS for the current fiscal year.

A number of analysts have weighed in on the stock. Jefferies Financial Group set a $102.00 price objective on shares of Genuine Parts and gave the company a “hold” rating in a research note on Friday, July 19th. Goldman Sachs Group assumed coverage on shares of Genuine Parts in a research note on Thursday, July 11th. They set a “neutral” rating and a $107.00 price objective for the company. ValuEngine lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Stephens assumed coverage on shares of Genuine Parts in a research note on Thursday, May 30th. They set an “overweight” rating and a $114.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Genuine Parts from $114.00 to $104.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $105.75.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement, industrial parts and materials, and business products in North America, Australia, New Zealand, the United Kingdom, France, Germany, Poland, and Puerto Rico. The company distributes automotive replacement parts for imported vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, and heavy duty equipment; and accessory items for automotive aftermarket, such as repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, industrial concerns, and individuals.

Further Reading: What is the Difference Between Common Shares and Convertible Shares?

Institutional Ownership by Quarter for Genuine Parts (NYSE:GPC)

Receive News & Ratings for Genuine Parts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts and related companies with MarketBeat.com's FREE daily email newsletter.