66,473 Shares in Graco Inc. $GGG Acquired by Callan Family Office LLC

Key Points

• Callan Family Office acquired 66,473 Graco shares worth approximately $5.0 million in the second quarter. Institutional investors collectively own 93.88% of Graco’s outstanding stock.
• Analysts maintain a generally cautious outlook, with Graco carrying a consensus “Hold” rating and a $95 price target. Recent targets ranged from $85 to $96.
• Graco’s latest quarterly earnings beat expectations, with EPS of $0.91 versus the $0.81 consensus, while revenue rose 3.3% year over year to $590.55 million. The company also pays a quarterly dividend of $0.295 per share, yielding about 1.5% annually.

Callan Family Office LLC acquired a new stake in Graco Inc. (NYSE:GGG - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 66,473 shares of the industrial products company's stock, valued at approximately $5,026,000.

Several other institutional investors have also added to or reduced their stakes in GGG. Goldman Sachs Group Inc. lifted its holdings in shares of Graco by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company's stock valued at $27,592,000 after purchasing an additional 44,573 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock worth $42,000 after buying an additional 452 shares during the last quarter. EverSource Wealth Advisors LLC raised 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 worth $152,000 after buying an additional 870 shares during the last quarter. Marshall Wace LLP lifted its stake in Graco by 559.5% during 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 during the period. Finally, Federated Hermes Inc. lifted its stake in Graco by 4.2% during the 2nd quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company's stock valued at $1,830,000 after acquiring an additional 852 shares during the period. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DA Davidson reissued a "neutral" rating and set a $85.00 price objective on shares of Graco in a report on Monday, July 27th. Royal Bank Of Canada raised 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. Wolfe Research lowered shares of Graco from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Robert W. Baird set a $94.00 price target on Graco in a report on Friday, July 24th. Finally, Weiss Ratings upgraded Graco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, Graco currently has a consensus rating of "Hold" and a consensus price target of $95.00.

Graco Stock Down 1.1%

Shares of NYSE:GGG opened at $80.82 on Friday. The firm's 50 day moving average price is $77.79 and its 200-day moving average price is $82.02. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The stock has a market capitalization of $13.09 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 2.51 and a beta of 0.92.

Graco (NYSE:GGG - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. Graco had a net margin of 23.53% and a return on equity of 19.54%. The company had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. During the same period in the previous year, the business posted $0.75 earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. Analysts expect that Graco Inc. will post 3.26 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. Graco's payout ratio is presently 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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