2,370 Shares in Graco Inc. $GGG Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC bought a new position in Graco Inc. (NYSE:GGG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,370 shares of the industrial products company’s stock, valued at approximately $204,000.

Several other hedge funds have also modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its position in Graco by 41.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock valued at $41,000 after buying an additional 141 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in Graco by 2.7% during the first quarter. Kestra Private Wealth Services LLC now owns 6,347 shares of the industrial products company’s stock valued at $530,000 after buying an additional 169 shares in the last quarter. Values First Advisors Inc. lifted its position in Graco by 0.8% during the first quarter. Values First Advisors Inc. now owns 23,084 shares of the industrial products company’s stock valued at $1,927,000 after buying an additional 180 shares in the last quarter. Optas LLC lifted its position in Graco by 6.0% during the first quarter. Optas LLC now owns 3,560 shares of the industrial products company’s stock valued at $297,000 after buying an additional 200 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its position in Graco by 5.5% during the first quarter. Resonant Capital Advisors LLC now owns 3,843 shares of the industrial products company’s stock valued at $321,000 after buying an additional 202 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Down 2.1%

GGG opened at $80.15 on Friday. The firm has a market capitalization of $13.28 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.71 and a beta of 1.07. The firm’s 50 day moving average is $84.78 and its 200-day moving average is $84.07. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $571.81 million for the quarter, compared to analysts’ expectations of $590.57 million. Graco had a net margin of 22.26% and a return on equity of 19.05%. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 EPS. Equities analysts expect that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Monday, October 20th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, October 20th. Graco’s payout ratio is 39.01%.

Analysts Set New Price Targets

GGG has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Graco in a research report on Wednesday. Wolfe Research initiated coverage on shares of Graco in a research report on Wednesday, June 18th. They set an “outperform” rating on the stock. Finally, Robert W. Baird lifted their price target on shares of Graco from $88.00 to $91.00 and gave the company a “neutral” rating in a research report on Friday, July 25th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Graco has an average rating of “Moderate Buy” and an average target price of $94.50.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.