Caisse de depot et placement du Quebec Invests $141.67 Million in Graco Inc. $GGG

Key Points

• Caisse de dépôt et placement du Québec acquired 1.87 million Graco shares worth approximately $141.7 million, giving it a 1.16% stake. Institutional investors collectively own 93.88% of the company.
• Graco reported quarterly EPS of $0.91, exceeding analysts’ $0.81 estimate, while revenue rose 3.3% year over year to $590.55 million but fell short of expectations.
• Graco maintains a quarterly dividend of $0.295, equivalent to an annualized $1.18 payout and a 1.5% yield. Analysts remain generally neutral, with a consensus “Hold” rating and a $95 price target.

Caisse de depot et placement du Quebec acquired a new position in Graco Inc. (NYSE:GGG - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,873,659 shares of the industrial products company's stock, valued at approximately $141,667,000. Caisse de depot et placement du Quebec owned approximately 1.16% of Graco at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in GGG. Cassaday & Co Wealth Management LLC acquired a new position in shares of Graco during the first quarter valued at $26,000. Whipplewood Advisors LLC raised its stake in shares of Graco by 2,650.0% during the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 318 shares in the last quarter. Essential Partners LLC lifted its holdings in Graco by 78.6% in the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company's stock worth $30,000 after purchasing an additional 158 shares during the period. Geneos Wealth Management Inc. increased its stake 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 buying an additional 452 shares during the period. Finally, Root Financial Partners LLC increased its stake in Graco by 43.2% during the 1st quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company's stock valued at $43,000 after buying an additional 152 shares during the period. Institutional investors own 93.88% of the company's stock.

Graco Stock Performance

Shares of NYSE:GGG opened at $79.58 on Thursday. The company has a market capitalization of $12.89 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92. The stock has a fifty day moving average of $78.02 and a 200-day moving average of $81.74. Graco Inc. has a one year low of $72.51 and a one year high of $95.69.

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

Graco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Investors of record on Monday, July 20th were given a $0.295 dividend. The ex-dividend date was Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. Graco's dividend payout ratio (DPR) is 37.11%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada upped their price target on shares of Graco from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Friday, July 24th. DA Davidson reiterated a "neutral" rating and set a $85.00 price objective on shares of Graco in a research note on Monday, July 27th. Weiss Ratings raised Graco from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 4th. Robert W. Baird set a $94.00 target price on Graco in a research report on Friday, July 24th. Finally, Wolfe Research lowered Graco from an "outperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Graco has an average rating of "Hold" and a consensus target price of $95.00.

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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