Texas Permanent School Fund Corp Reduces Stock Holdings in Genuine Parts Company $GPC

Texas Permanent School Fund Corp reduced its stake in shares of Genuine Parts Company (NYSE:GPC) by 38.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,488 shares of the specialty retailer’s stock after selling 5,965 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Genuine Parts were worth $1,151,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GPC. Caldwell Trust Co purchased a new position in shares of Genuine Parts during the second quarter valued at about $3,323,000. Osaic Holdings Inc. grew its holdings in shares of Genuine Parts by 29.9% during the 2nd quarter. Osaic Holdings Inc. now owns 79,838 shares of the specialty retailer’s stock worth $9,665,000 after acquiring an additional 18,363 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Genuine Parts by 8.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 8,238 shares of the specialty retailer’s stock worth $999,000 after acquiring an additional 676 shares during the period. Stance Capital LLC bought a new position in shares of Genuine Parts in the 2nd quarter worth approximately $1,642,000. Finally, Monarch Capital Management Inc. lifted its stake in shares of Genuine Parts by 4.7% in the 2nd quarter. Monarch Capital Management Inc. now owns 33,651 shares of the specialty retailer’s stock valued at $4,108,000 after purchasing an additional 1,507 shares during the period. 78.83% of the stock is currently owned by institutional investors.

Genuine Parts Stock Up 1.1%

NYSE:GPC opened at $125.25 on Thursday. 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 firm has a market cap of $17.42 billion, a P/E ratio of 21.56 and a beta of 0.74. Genuine Parts Company has a fifty-two week low of $104.01 and a fifty-two week high of $143.48. The firm has a 50-day simple moving average of $128.56 and a two-hundred day simple moving average of $130.80.

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

Genuine Parts Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Friday, December 5th will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.3%. Genuine Parts’s dividend payout ratio (DPR) is presently 70.91%.

Analysts Set New Price Targets

A number of research firms have issued reports on GPC. Truist Financial increased their price objective on Genuine Parts from $143.00 to $146.00 and gave the stock a “buy” rating in a report 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 research report on Thursday, October 23rd. The Goldman Sachs Group raised shares of Genuine Parts from a “sell” rating to a “neutral” rating and lifted their price target for the company from $130.00 to $142.00 in a research report on Thursday, November 13th. Weiss Ratings restated a “hold (c-)” rating on shares of Genuine Parts in a report on Tuesday. Finally, Evercore ISI lifted their target price on shares of Genuine Parts from $148.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Insider Buying and Selling at Genuine Parts

In other news, EVP Naveen Krishna sold 5,303 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $138.12, for a total transaction of $732,450.36. Following the transaction, the executive vice president directly owned 26,112 shares of the company’s stock, valued at $3,606,589.44. This represents a 16.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.42% of the stock is owned by corporate insiders.

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.