Genuine Parts Company $GPC Stake Trimmed by Bank of Nova Scotia

Bank of Nova Scotia lessened its stake in shares of Genuine Parts Company (NYSE:GPC) by 80.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,379 shares of the specialty retailer’s stock after selling 80,385 shares during the period. Bank of Nova Scotia’s holdings in Genuine Parts were worth $2,049,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Strive Financial Group LLC purchased a new position in shares of Genuine Parts in the fourth quarter worth approximately $25,000. WPG Advisers LLC lifted its position in shares of Genuine Parts by 213.0% in the 4th quarter. WPG Advisers LLC now owns 241 shares of the specialty retailer’s stock valued at $30,000 after acquiring an additional 164 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Genuine Parts in the 4th quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd boosted its stake in Genuine Parts by 6,225.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 253 shares of the specialty retailer’s stock worth $35,000 after purchasing an additional 249 shares during the period. Finally, Lodestone Wealth Management LLC acquired a new position in Genuine Parts in the 4th quarter worth approximately $32,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Performance

Shares of GPC opened at $130.22 on Thursday. The company has a market capitalization of $17.95 billion, a PE ratio of 520.88 and a beta of 0.63. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.50 and a current ratio of 1.16. The company’s 50 day moving average price is $112.62 and its 200 day moving average price is $115.59. Genuine Parts Company has a 52 week low of $90.78 and a 52 week high of $151.57.

Genuine Parts (NYSE:GPC) last released its earnings results on Tuesday, July 21st. The specialty retailer reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.07. The company had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.43 billion. Genuine Parts had a net margin of 0.13% and a return on equity of 22.59%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.10 EPS. Genuine Parts has set its FY 2026 guidance at 7.500-8.000 EPS. Research analysts expect that Genuine Parts Company will post 7.72 EPS for the current fiscal year.

Insider Buying and Selling at Genuine Parts

In other news, insider James F. Howe sold 415 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $104.33, for a total value of $43,296.95. Following the transaction, the insider directly owned 25,589 shares of the company’s stock, valued at approximately $2,669,700.37. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GPC shares. UBS Group reiterated a “neutral” rating and set a $122.00 price objective on shares of Genuine Parts in a research report on Wednesday, July 22nd. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $165.00 target price on shares of Genuine Parts in a research report on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Genuine Parts in a report on Wednesday, June 24th. Evercore reiterated an “outperform” rating on shares of Genuine Parts in a report on Wednesday, July 22nd. Finally, DA Davidson upped their price target on Genuine Parts from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.00.

About Genuine Parts

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.