Mn Services Vermogensbeheer B.V. boosted its position in Genuine Parts Company (NYSE:GPC) by 518.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,387 shares of the specialty retailer’s stock after buying an additional 20,442 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Genuine Parts were worth $2,262,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of GPC. Pinnacle Bank purchased a new position in shares of Genuine Parts during the first quarter worth about $115,000. Global X Management Co. LLC increased its position in shares of Genuine Parts by 29.3% in the first quarter. Global X Management Co. LLC now owns 1,644 shares of the specialty retailer’s stock worth $152,000 after buying an additional 373 shares during the period. Washington Trust Bank increased its position in shares of Genuine Parts by 334.3% in the first quarter. Washington Trust Bank now owns 1,963 shares of the specialty retailer’s stock worth $181,000 after buying an additional 1,511 shares during the period. Tompkins Financial Corp increased its position in shares of Genuine Parts by 146.7% in the first quarter. Tompkins Financial Corp now owns 1,875 shares of the specialty retailer’s stock worth $186,000 after buying an additional 1,115 shares during the period. Finally, State of Alaska Department of Revenue purchased a new position in shares of Genuine Parts during the first quarter worth about $208,000. Hedge funds and other institutional investors own 73.20% of the company’s stock.
Shares of Genuine Parts Company (GPC) opened at 83.93 on Friday. Genuine Parts Company has a 1-year low of $80.86 and a 1-year high of $105.18. The stock has a 50 day moving average of $88.11 and a 200 day moving average of $92.65. The company has a market cap of $12.34 billion, a price-to-earnings ratio of 18.17 and a beta of 1.07.
Genuine Parts (NYSE:GPC) last issued its quarterly earnings results on Thursday, July 20th. The specialty retailer reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.31 by $0.02. Genuine Parts had a net margin of 4.37% and a return on equity of 21.05%. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the business earned $1.28 earnings per share. Genuine Parts’s revenue was up 5.1% compared to the same quarter last year. Analysts predict that Genuine Parts Company will post $4.73 EPS for the current year.
WARNING: “Genuine Parts Company (NYSE:GPC) Shares Bought by Mn Services Vermogensbeheer B.V.” was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another domain, it was copied illegally and republished in violation of US & international trademark & copyright laws. The legal version of this story can be read at https://stocknewstimes.com/2017/07/29/genuine-parts-company-nysegpc-position-raised-by-mn-services-vermogensbeheer-b-v-updated.html.
GPC has been the topic of a number of recent analyst reports. Gabelli upgraded shares of Genuine Parts from a “hold” rating to a “buy” rating and set a $101.00 price target on the stock in a research report on Friday, July 21st. Jefferies Group LLC restated a “hold” rating and issued a $95.00 price target on shares of Genuine Parts in a research report on Tuesday, April 18th. Zacks Investment Research upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. BidaskClub upgraded shares of Genuine Parts from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $96.00 price target on shares of Genuine Parts in a research report on Thursday, May 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Genuine Parts presently has a consensus rating of “Hold” and a consensus target price of $96.86.
About Genuine Parts
Genuine Parts Company is a service organization engaged in the distribution of automotive replacement parts, industrial replacement parts, office products and electrical/electronic materials. The Company’s segments include Automotive, Industrial, Office Products Group, Electrical/Electronic Materials and Other.
Receive News & Ratings for Genuine Parts Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Genuine Parts Company and related companies with MarketBeat.com's FREE daily email newsletter.
