Envestnet Asset Management Inc. Decreases Stock Holdings in Graco Inc. (NYSE:GGG)

Envestnet Asset Management Inc. trimmed its holdings in Graco Inc. (NYSE:GGG - Free Report) by 16.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,568 shares of the industrial products company's stock after selling 41,173 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of Graco worth $17,251,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Eukles Asset Management increased its holdings in shares of Graco by 3.0% during the 1st quarter. Eukles Asset Management now owns 19,297 shares of the industrial products company's stock worth $1,611,000 after buying an additional 560 shares during the last quarter. Aurora Private Wealth Inc. acquired a new stake in shares of Graco during the 1st quarter worth approximately $993,000. Principal Financial Group Inc. increased its holdings in shares of Graco by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 2,390,940 shares of the industrial products company's stock worth $199,667,000 after buying an additional 62,761 shares during the last quarter. Mutual Advisors LLC increased its holdings in shares of Graco by 10.3% during the 1st quarter. Mutual Advisors LLC now owns 4,606 shares of the industrial products company's stock worth $375,000 after buying an additional 430 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its holdings in shares of Graco by 5.5% during the 1st quarter. Resonant Capital Advisors LLC now owns 3,843 shares of the industrial products company's stock worth $321,000 after buying an additional 202 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wolfe Research assumed coverage on shares of Graco in a report on Wednesday, June 18th. They issued an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.00.

Insiders Place Their Bets

In related news, insider David J. Thompson sold 3,588 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the sale, the insider directly owned 27,520 shares of the company's stock, valued at $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.19% of the stock is currently owned by company insiders.

Graco Stock Up 1.5%

NYSE:GGG opened at $87.74 on Friday. The company has a fifty day simple moving average of $85.73 and a two-hundred day simple moving average of $84.00. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 31.01, a price-to-earnings-growth ratio of 2.92 and a beta of 1.06. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86.

Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The firm had revenue of $528.28 million during the quarter, compared to the consensus estimate of $526.98 million. Graco had a net margin of 22.70% and a return on equity of 19.42%. The company's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 earnings per share. On average, analysts expect that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Monday, July 21st will be given a $0.275 dividend. The ex-dividend date of this dividend is Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a yield of 1.25%. Graco's dividend payout ratio (DPR) is presently 38.87%.

About Graco

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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