Conestoga Capital Advisors LLC Buys 67,543 Shares of Graco Inc. $GGG

Key Points

• Conestoga Capital Advisors increased its stake in Graco by 14.6%, buying 67,543 shares to hold 531,355 shares (about 0.32%) valued at roughly $43.56 million, and institutional investors now own about 93.88% of the stock.
• Graco missed quarterly estimates, reporting $0.66 EPS versus $0.75 expected and revenue of $540.14 million compared with $561.35 million consensus.
• Dividend announced: Graco declared a quarterly dividend of $0.295 per share (annualized $1.18) with an ex-dividend date of April 13 and a payment date of May 6, implying a yield of about 1.5%.

Conestoga Capital Advisors LLC boosted its stake in Graco Inc. (NYSE:GGG - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 531,355 shares of the industrial products company's stock after acquiring an additional 67,543 shares during the period. Conestoga Capital Advisors LLC owned 0.32% of Graco worth $43,555,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in GGG. Caisse de depot et placement du Quebec raised its position in Graco by 236.4% in the third quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company's stock worth $108,711,000 after acquiring an additional 899,174 shares during the period. AQR Capital Management LLC raised its position in Graco by 116.8% in the second quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company's stock worth $63,201,000 after acquiring an additional 396,125 shares during the period. Schroder Investment Management Group raised its position in Graco by 877.5% in the third quarter. Schroder Investment Management Group now owns 334,947 shares of the industrial products company's stock worth $28,300,000 after acquiring an additional 300,682 shares during the period. Nordea Investment Management AB raised its position in Graco by 299.6% in the fourth quarter. Nordea Investment Management AB now owns 342,247 shares of the industrial products company's stock worth $28,263,000 after acquiring an additional 256,593 shares during the period. Finally, Sei Investments Co. raised its position in Graco by 94.6% in the second quarter. Sei Investments Co. now owns 508,176 shares of the industrial products company's stock worth $43,688,000 after acquiring an additional 246,984 shares during the period. Institutional investors own 93.88% of the company's stock.

Graco Trading Up 0.9%

Graco stock opened at $80.28 on Friday. Graco Inc. has a 1-year low of $78.87 and a 1-year high of $95.69. The firm has a market capitalization of $13.32 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 2.54 and a beta of 1.09. The firm has a 50 day simple moving average of $86.83 and a 200 day simple moving average of $85.39.

Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The business had revenue of $540.14 million during the quarter, compared to analysts' expectations of $561.35 million. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The firm's quarterly revenue was up 2.2% on a year-over-year basis. On average, equities research analysts forecast that Graco Inc. will post 3.13 EPS for the current year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, April 13th. Graco's dividend payout ratio is 38.44%.

Wall Street Analysts Forecast Growth

Several analysts have commented on GGG shares. Weiss Ratings lowered shares of Graco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. DA Davidson reissued a "neutral" rating and issued a $85.00 price target on shares of Graco in a research report on Monday. Royal Bank Of Canada reissued an "outperform" rating and issued a $95.00 price target on shares of Graco in a research report on Friday, April 24th. Jefferies Financial Group raised their price objective on shares of Graco from $100.00 to $105.00 and gave the stock a "buy" rating in a report on Wednesday, January 28th. Finally, Robert W. Baird reduced their price objective on shares of Graco from $96.00 to $92.00 and set a "neutral" rating for the company in a research note on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $94.25.

Insider Buying and Selling at Graco

In related news, insider Timothy R. White sold 1,469 shares of the company's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total transaction of $133,238.30. Following the sale, the insider owned 51,430 shares of the company's stock, valued at approximately $4,664,701. This represents a 2.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the sale, the executive vice president directly owned 7,846 shares in the company, valued at $690,918.76. This trade represents a 22.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,394 shares of company stock worth $1,739,326 in the last ninety days. Insiders own 2.18% of the company's stock.

About Graco

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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