Atlantic Union Bankshares Corp Has $1.02 Million Stock Position in Genuine Parts (NYSE:GPC)

Atlantic Union Bankshares Corp trimmed its position in Genuine Parts (NYSE:GPC) by 33.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,723 shares of the specialty retailer’s stock after selling 4,421 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Genuine Parts were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Van ECK Associates Corp increased its position in Genuine Parts by 11.0% during the third quarter. Van ECK Associates Corp now owns 23,057 shares of the specialty retailer’s stock worth $3,221,000 after acquiring an additional 2,286 shares during the period. Principal Financial Group Inc. increased its position in Genuine Parts by 3.6% during the third quarter. Principal Financial Group Inc. now owns 183,533 shares of the specialty retailer’s stock worth $25,636,000 after acquiring an additional 6,358 shares during the period. Capital Performance Advisors LLP bought a new position in Genuine Parts during the third quarter worth $31,000. Equitable Trust Co. increased its position in Genuine Parts by 6.3% during the third quarter. Equitable Trust Co. now owns 3,145 shares of the specialty retailer’s stock worth $439,000 after acquiring an additional 186 shares during the period. Finally, CWA Asset Management Group LLC bought a new position in Genuine Parts during the third quarter worth $219,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Up 1.2 %

GPC opened at $127.41 on Friday. The firm’s 50-day simple moving average is $119.74 and its 200-day simple moving average is $126.10. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 19.69 and a beta of 0.93. 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 twelve month low of $112.74 and a twelve month high of $164.45.

Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.71 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. During the same quarter in the prior year, the company earned $2.26 EPS. Equities research analysts anticipate that Genuine Parts will post 7.9 EPS for the current fiscal year.

Genuine Parts Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, March 7th will be given a dividend of $1.03 per share. This is an increase from Genuine Parts’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 7th. This represents a $4.12 annualized dividend and a yield of 3.23%. Genuine Parts’s dividend payout ratio is 63.68%.

Insider Buying and Selling

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the transaction, the director now directly owns 11,357 shares in the company, valued at approximately $1,371,698.46. This represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GPC shares. Northcoast Research lowered shares of Genuine Parts from a “buy” rating to a “neutral” rating in a research report on Friday, January 17th. Redburn Atlantic raised shares of Genuine Parts to a “hold” rating in a report on Monday, November 11th. Truist Financial boosted their price target on shares of Genuine Parts from $129.00 to $133.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Evercore ISI lowered their price target on shares of Genuine Parts from $128.00 to $125.00 and set an “in-line” rating on the stock in a report on Wednesday, February 19th. Finally, Loop Capital initiated coverage on shares of Genuine Parts in a report on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $137.63.

Genuine Parts Company 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.