32,783 Shares in Graco Inc. $GGG Purchased by Edgestream Partners L.P.

Key Points

• Edgestream Partners acquired 32,783 Graco shares worth approximately $2.8 million, while several other institutional investors increased their positions. Institutional investors collectively own 93.88% of Graco’s stock.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $95 price target. RBC raised its target to $96, while Wolfe Research downgraded the stock to “peer perform.”
• Graco reported quarterly EPS of $0.91, beating estimates by $0.10, while revenue rose 3.3% year over year to $590.55 million but fell short of expectations. The company also declared a $0.295 quarterly dividend, representing a 1.5% yield.

Edgestream Partners L.P. acquired a new position in Graco Inc. (NYSE:GGG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 32,783 shares of the industrial products company's stock, valued at approximately $2,775,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GGG. Oddo BHF Asset Management Sas increased its position in shares of Graco by 5.6% during the 1st quarter. Oddo BHF Asset Management Sas now owns 52,272 shares of the industrial products company's stock valued at $4,425,000 after purchasing an additional 2,788 shares during the last quarter. South Dakota Investment Council lifted its holdings in Graco by 158.3% during the first quarter. South Dakota Investment Council now owns 18,440 shares of the industrial products company's stock valued at $1,561,000 after purchasing an additional 11,300 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Graco by 66.8% in the first quarter. EverSource Wealth Advisors LLC now owns 1,545 shares of the industrial products company's stock worth $131,000 after purchasing an additional 619 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Graco by 113.8% in the first quarter. Quantinno Capital Management LP now owns 535,776 shares of the industrial products company's stock worth $45,354,000 after purchasing an additional 285,206 shares in the last quarter. Finally, Everest Financial Group LLC raised its position in shares of Graco by 1.7% in the first quarter. Everest Financial Group LLC now owns 21,161 shares of the industrial products company's stock valued at $1,791,000 after purchasing an additional 354 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GGG shares. Royal Bank Of Canada upped their price target on shares of Graco from $92.00 to $96.00 and gave the company an "outperform" rating in a research note on Friday, July 24th. DA Davidson reiterated a "neutral" rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, July 27th. Wolfe Research cut shares of Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Weiss Ratings downgraded Graco from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, July 21st. Finally, Robert W. Baird set a $94.00 price target on Graco in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $95.00.

Graco Stock Down 0.6%

NYSE:GGG opened at $79.48 on Friday. The stock has a market cap of $12.87 billion, a P/E ratio of 24.99, a PEG ratio of 2.47 and a beta of 0.93. The business's 50-day moving average price is $75.58 and its two-hundred day moving average price is $82.52. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. The company had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. Graco had a return on equity of 19.54% and a net margin of 23.53%.Graco's revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. On average, equities research analysts expect that Graco Inc. will post 3.22 EPS for the current fiscal year.

Graco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.5%. Graco's payout ratio is presently 37.11%.

Graco 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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