Marino Stram & Associates LLC increased its holdings in Genuine Parts (NYSE:GPC) by 8.7% during the 1st quarter, Holdings Channel reports. The firm owned 2,845 shares of the specialty retailer’s stock after purchasing an additional 227 shares during the period. Marino Stram & Associates LLC’s holdings in Genuine Parts were worth $319,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of GPC. Westpac Banking Corp grew its position in shares of Genuine Parts by 27.7% during the 1st quarter. Westpac Banking Corp now owns 11,568 shares of the specialty retailer’s stock valued at $1,296,000 after acquiring an additional 2,512 shares during the period. Northeast Financial Consultants Inc bought a new position in Genuine Parts in the 1st quarter worth approximately $336,000. Andra AP fonden purchased a new stake in shares of Genuine Parts during the 1st quarter valued at $7,148,000. GWM Advisors LLC raised its position in Genuine Parts by 9.6% in the 1st quarter. GWM Advisors LLC now owns 2,315 shares of the specialty retailer’s stock worth $259,000 after purchasing an additional 202 shares during the period. Finally, Trexquant Investment LP raised its position in Genuine Parts by 442.1% in the 1st quarter. Trexquant Investment LP now owns 11,558 shares of the specialty retailer’s stock worth $1,295,000 after purchasing an additional 9,426 shares during the period. 76.36% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on GPC. ValuEngine raised shares of Genuine Parts from a “hold” rating to a “buy” rating in a report on Tuesday, February 19th. Evercore ISI began coverage on shares of Genuine Parts in a report on Wednesday, March 20th. They issued an “in-line” rating and a $110.00 price target on the stock. Zacks Investment Research lowered shares of Genuine Parts from a “buy” rating to a “hold” rating in a report on Tuesday, February 12th. Finally, Stephens began coverage on shares of Genuine Parts in a report on Thursday, May 30th. They issued an “overweight” rating and a $114.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Genuine Parts has an average rating of “Hold” and an average price target of $105.33.
Genuine Parts (NYSE:GPC) last announced its quarterly earnings results on Thursday, April 18th. The specialty retailer reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.03). The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.79 billion. Genuine Parts had a return on equity of 23.46% and a net margin of 4.20%. Genuine Parts’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $1.27 EPS. As a group, sell-side analysts expect that Genuine Parts will post 5.9 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.7625 dividend. This represents a $3.05 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Thursday, June 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 53.70%.
In related news, insider Scott Sonnemaker bought 5,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $99.01 per share, with a total value of $495,050.00. Following the purchase, the insider now owns 5,000 shares of the company’s stock, valued at approximately $495,050. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.50% of the company’s stock.
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About Genuine Parts
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.
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