Quantinno Capital Management LP raised its position in shares of Graco Inc. (NYSE:GGG – Free Report) by 113.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 535,776 shares of the industrial products company’s stock after buying an additional 285,206 shares during the period. Quantinno Capital Management LP’s holdings in Graco were worth $45,354,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after buying an additional 44,573 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 452 shares during the period. EverSource Wealth Advisors LLC grew its position in Graco by 97.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 870 shares in the last quarter. Marshall Wace LLP grew its position in Graco by 559.5% in the 2nd quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock valued at $9,293,000 after acquiring an additional 91,708 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in Graco by 4.2% during the second quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock worth $1,830,000 after purchasing an additional 852 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on GGG shares. Robert W. Baird set a $94.00 price target on shares of Graco in a research report on Friday, July 24th. Weiss Ratings downgraded shares of Graco from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, July 21st. Royal Bank Of Canada increased their target price on shares of Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. DA Davidson reissued a “neutral” rating and issued a $85.00 price target on shares of Graco in a research report on Monday. Finally, Wolfe Research downgraded shares of Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.00.
Graco Stock Performance
Shares of GGG opened at $81.02 on Thursday. The stock has a 50-day simple moving average of $75.40 and a 200-day simple moving average of $82.58. The stock has a market capitalization of $13.12 billion, a PE ratio of 25.48, a PEG ratio of 2.55 and a beta of 0.93. Graco Inc. has a 1 year low of $72.51 and a 1 year high of $95.69.
Graco (NYSE:GGG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The business had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. During the same period in the previous year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts predict that Graco Inc. will post 3.22 EPS for the current year.
Graco Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, July 20th. Graco’s payout ratio is 37.11%.
Graco Company Profile
Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.
The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.
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