ProShare Advisors LLC grew its holdings in Graco Inc. (NYSE:GGG – Free Report) by 21.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 372,455 shares of the industrial products company’s stock after buying an additional 65,114 shares during the period. ProShare Advisors LLC’s holdings in Graco were worth $28,619,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in GGG. Cassaday & Co Wealth Management LLC bought a new stake in Graco in the 1st quarter valued at $26,000. Whipplewood Advisors LLC boosted its position in Graco by 2,650.0% during the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 318 shares during the period. Essential Partners LLC boosted its position in Graco by 78.6% during the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 158 shares during the period. Root Financial Partners LLC increased its holdings in shares of Graco by 43.2% in the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 152 shares during the last quarter. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Graco by 2,540.0% in the second quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 508 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors.
Graco Price Performance
Shares of Graco stock opened at $67.43 on Monday. The company has a quick ratio of 1.24, a current ratio of 2.12 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 2.11 and a beta of 0.89. Graco Inc. has a twelve month low of $65.96 and a twelve month high of $95.69. The company has a 50-day simple moving average of $76.84 and a two-hundred day simple moving average of $81.07.
Graco (NYSE:GGG – Get Free Report) last announced its earnings results on Wednesday, October 21st. The industrial products company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). Graco had a return on equity of 20.13% and a net margin of 22.40%. The business had revenue of $586.39 million for the quarter, compared to analyst estimates of $590.17 million. During the same quarter in the previous year, the company earned $0.73 EPS. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. Analysts forecast that Graco Inc. will post 3.20 EPS for the current year.
Graco Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Monday, October 19th will be paid a $0.2950 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, October 19th. Graco’s payout ratio is 37.94%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $82.00 price objective (down from $95.00) on shares of Graco in a research report on Friday, October 23rd. Robert W. Baird set a $80.00 target price on shares of Graco in a report on Friday, October 23rd. DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Weiss Ratings raised shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Finally, Wolfe Research downgraded shares of Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $87.40.
Read Our Latest Research Report on Graco
Graco Company Profile
Graco Inc is a global manufacturer of equipment used to move, measure, control, dispense and apply fluids and other materials. Its products are used in industrial, commercial and residential applications involving paints, coatings, sealants, adhesives, lubricants, chemicals and other fluids.
The company’s product portfolio includes pumps, valves, meters, regulators, fluid-management systems, lubrication equipment, spray-applied coating and finishing systems, sealant and adhesive equipment, and contractor-oriented painting and texture application tools.
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