Amundi Increases Holdings in Graco Inc. $GGG

Key Points

• Amundi's investment in Graco Inc. increased by 7.2% in the first quarter, raising their total holdings to 1,797,477 shares, valued at approximately $144.2 million.
• Multiple institutional investors also adjusted their stakes in Graco, with GW Henssler & Associates increasing their position by 10% and State of Wyoming boosting theirs by 24% during the same period.
• Graco's stock has a consensus rating of "Moderate Buy" with a price target of $94.50, despite a recent earnings report that showed EPS of $0.75, missing estimates by $0.03.

Amundi increased its holdings in shares of Graco Inc. (NYSE:GGG - Free Report) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,797,477 shares of the industrial products company's stock after purchasing an additional 120,875 shares during the period. Amundi owned 1.08% of Graco worth $144,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GW Henssler & Associates Ltd. boosted its position in Graco by 10.0% during the 1st quarter. GW Henssler & Associates Ltd. now owns 115,497 shares of the industrial products company's stock worth $9,645,000 after purchasing an additional 10,533 shares during the period. Evergreen Capital Management LLC boosted its position in Graco by 5.2% during the 1st quarter. Evergreen Capital Management LLC now owns 5,063 shares of the industrial products company's stock worth $423,000 after purchasing an additional 252 shares during the period. Magnetar Financial LLC purchased a new stake in Graco during the 1st quarter worth $3,750,000. WPG Advisers LLC purchased a new stake in Graco during the 1st quarter worth $41,000. Finally, State of Wyoming boosted its position in Graco by 24.0% in the 1st quarter. State of Wyoming now owns 5,635 shares of the industrial products company's stock valued at $471,000 after buying an additional 1,089 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Robert W. Baird upped their price objective 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. Wolfe Research assumed coverage on shares of Graco in a research report on Wednesday, June 18th. They issued an "outperform" rating for the company. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.50.

Graco Stock Performance

Shares of Graco stock opened at $85.77 on Friday. The firm has a market cap of $14.21 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03. The firm's 50-day simple moving average is $85.88 and its 200-day simple moving average is $84.20. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results 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 company had revenue of $571.81 million during the quarter, compared to analyst estimates of $590.57 million. Graco had a net margin of 22.26% and a return on equity of 19.05%. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. On average, equities analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Profile

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.

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