Corient Private Wealth LP Invests $2.25 Million in Graco Inc. $GGG

Key Points

• Corient Private Wealth initiated a $2.25 million position in Graco during the second quarter, while major institutions including BlackRock and Norges Bank also established significant stakes. Institutional investors now own 93.88% of Graco’s shares.
• Analysts maintain a generally cautious view, with Graco carrying an average “Hold” rating and a $95 price target. Recent recommendations ranged from RBC’s “outperform” to Wolfe Research’s “peer perform.”
• Graco reported quarterly EPS of $0.91, beating estimates of $0.81, although revenue of $590.55 million fell short of forecasts. The company also paid a quarterly dividend of $0.295 per share, equivalent to a 1.5% annual yield.

Corient Private Wealth LP bought a new stake in Graco Inc. (NYSE:GGG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,758 shares of the industrial products company's stock, valued at approximately $2,250,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Graco during the second quarter valued at $1,396,470,000. Norges Bank bought a new stake in shares of Graco in the 4th quarter worth about $161,949,000. Caisse de depot et placement du Quebec purchased a new stake in shares of Graco during the 2nd quarter valued at about $141,667,000. Hsbc Holdings PLC purchased a new stake in shares of Graco during the 2nd quarter valued at about $100,157,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Graco during the 2nd quarter valued at about $97,625,000. Institutional investors own 93.88% of the company's stock.

Analyst Upgrades and Downgrades

GGG has been the subject of several recent research reports. Wolfe Research lowered Graco from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Weiss Ratings raised Graco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Robert W. Baird set a $94.00 target price on Graco in a report on Friday, July 24th. DA Davidson reissued a "neutral" rating and set a $85.00 target price on shares of Graco in a research report on Monday, July 27th. Finally, Royal Bank Of Canada increased their price target on Graco from $92.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Graco currently has an average rating of "Hold" and an average price target of $95.00.

Graco Trading Up 1.1%

Shares of GGG stock opened at $77.66 on Thursday. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The stock has a fifty day simple moving average of $78.30 and a two-hundred day simple moving average of $81.19. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 2.41 and a beta of 0.92.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.81 by $0.10. The business had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. Research analysts predict that Graco Inc. will post 3.19 EPS for the current fiscal year.

Graco Announces Dividend

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

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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