OMERS ADMINISTRATION Corp Boosts Stock Holdings in Genuine Parts (NYSE:GPC)

OMERS ADMINISTRATION Corp boosted its position in Genuine Parts (NYSE:GPC) by 19.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,828 shares of the specialty retailer’s stock after purchasing an additional 954 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Genuine Parts were worth $680,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Caprock Group LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth $540,000. Dimensional Fund Advisors LP lifted its position in shares of Genuine Parts by 12.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,698,737 shares of the specialty retailer’s stock worth $198,338,000 after acquiring an additional 182,965 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Genuine Parts by 436.0% during the fourth quarter. Canada Pension Plan Investment Board now owns 31,451 shares of the specialty retailer’s stock worth $3,672,000 after acquiring an additional 25,583 shares in the last quarter. Verity & Verity LLC lifted its position in shares of Genuine Parts by 9.7% during the fourth quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock worth $12,198,000 after acquiring an additional 9,199 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Genuine Parts during the fourth quarter worth $21,840,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Genuine Parts Trading Up 0.9%

Shares of GPC stock opened at $128.67 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16. Genuine Parts has a 52-week low of $104.01 and a 52-week high of $153.44. The company has a market capitalization of $17.86 billion, a PE ratio of 19.89 and a beta of 0.76. The business’s fifty day moving average is $117.81 and its 200 day moving average is $119.72.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.09. Genuine Parts had a return on equity of 25.28% and a net margin of 3.85%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. On average, equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 6th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is currently 67.65%.

Analysts Set New Price Targets

GPC has been the topic of several recent research reports. Truist Financial increased their target price on Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Argus upgraded Genuine Parts to a “strong-buy” rating in a research report on Friday, April 25th. Evercore ISI dropped their target price on Genuine Parts from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research report on Saturday, April 26th. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.86.

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.