Barclays PLC Has $35.46 Million Stock Position in Graco Inc. $GGG

Key Points

• Barclays PLC boosted its stake in Graco by 110.7% in Q3, acquiring an additional 219,248 shares to hold 417,353 shares worth about $35.46 million (≈0.25% of the company).
• Graco's board authorized a 15,000,000‑share buyback, and the company reported Q earnings of $0.77 per share (in line) with revenue of $593.16 million, up 8.1% year‑over‑year; analysts have a consensus "Moderate Buy" and a $96.50 price target.
• Company insiders have been net sellers recently, disposing of 19,394 shares in the last 90 days valued at about $1.74 million, leaving insiders with roughly 2.19% ownership.

Barclays PLC lifted its position in Graco Inc. (NYSE:GGG - Free Report) by 110.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 417,353 shares of the industrial products company's stock after buying an additional 219,248 shares during the quarter. Barclays PLC owned about 0.25% of Graco worth $35,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stonebridge Capital Advisors LLC boosted its position in shares of Graco by 0.3% during the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company's stock worth $3,562,000 after buying an additional 119 shares during the period. Fifth Third Bancorp raised its position in Graco by 7.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company's stock valued at $149,000 after buying an additional 125 shares during the last quarter. ICW Investment Advisors LLC lifted its stake in Graco by 4.6% in the 3rd quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company's stock valued at $242,000 after acquiring an additional 126 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Graco by 7.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company's stock valued at $159,000 after acquiring an additional 135 shares in the last quarter. Finally, Viawealth LLC boosted its position in Graco by 0.3% during the 3rd quarter. Viawealth LLC now owns 53,195 shares of the industrial products company's stock worth $4,519,000 after acquiring an additional 137 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kathryn L. Schoenrock sold 2,223 shares of Graco stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total value of $195,757.38. Following the completion of the transaction, the executive vice president owned 7,846 shares in the company, valued at approximately $690,918.76. The trade was a 22.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Kevin Gilligan sold 12,870 shares of Graco stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total transaction of $1,146,330.90. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 19,394 shares of company stock valued at $1,739,326. 2.19% of the stock is currently owned by company insiders.

Graco Stock Performance

NYSE GGG opened at $87.95 on Wednesday. The company has a fifty day moving average of $89.35 and a 200-day moving average of $85.34. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $95.69. The company has a market capitalization of $14.54 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.78 and a beta of 1.07.

Graco (NYSE:GGG - Get Free Report) last posted its earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting analysts' consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The firm had revenue of $593.16 million for the quarter, compared to the consensus estimate of $591.99 million. During the same quarter in the prior year, the business earned $0.64 EPS. The business's revenue for the quarter was up 8.1% on a year-over-year basis. As a group, analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco declared that its board has authorized a share buyback plan on Friday, December 5th that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be given a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, April 13th. Graco's payout ratio is presently 38.19%.

Wall Street Analysts Forecast Growth

GGG has been the subject of several research reports. Robert W. Baird set a $96.00 price target on shares of Graco in a research report on Wednesday, January 28th. KeyCorp reaffirmed a "sector weight" rating on shares of Graco in a research note on Tuesday, January 27th. Weiss Ratings raised shares of Graco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 5th. DA Davidson restated a "neutral" rating and set a $85.00 price objective on shares of Graco in a report on Monday, February 2nd. Finally, Royal Bank Of Canada upped their target price on shares of Graco from $97.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $96.50.

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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