Graco Inc. $GGG Holdings Trimmed by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake in Graco by 1.4% in Q4, selling 227,388 shares and ending the quarter with 16,342,258 shares—about 9.86% of the company valued at roughly $1.34 billion.
• Graco missed quarterly expectations, reporting $0.66 EPS versus a $0.75 consensus and revenue of $540.14 million versus $561.35 million, though revenue was up 2.2% year-over-year.
• The company announced a quarterly dividend of $0.295 (annualized $1.18) for a ~1.5% yield, and analysts hold a consensus rating of Hold with an average target of $94.25; the stock trades around $80.28 with a $13.32 billion market cap.

Vanguard Group Inc. cut its holdings in Graco Inc. (NYSE:GGG - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,342,258 shares of the industrial products company's stock after selling 227,388 shares during the quarter. Vanguard Group Inc. owned about 9.86% of Graco worth $1,339,575,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GGG. Resonant Capital Advisors LLC raised its holdings in shares of Graco by 5.5% in the 4th quarter. Resonant Capital Advisors LLC now owns 4,671 shares of the industrial products company's stock worth $383,000 after purchasing an additional 243 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in Graco during the fourth quarter valued at approximately $764,000. Field & Main Bank bought a new stake in Graco during the fourth quarter worth approximately $41,000. OLD National Bancorp IN boosted its holdings in Graco by 2.6% during the fourth quarter. OLD National Bancorp IN now owns 9,124 shares of the industrial products company's stock worth $748,000 after buying an additional 234 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Graco by 294.4% in the fourth quarter. Teacher Retirement System of Texas now owns 297,787 shares of the industrial products company's stock valued at $24,410,000 after buying an additional 222,279 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

Graco Stock Up 0.9%

Shares of Graco stock opened at $80.28 on Friday. Graco Inc. has a 12 month low of $78.87 and a 12 month high of $95.69. The stock has a market cap of $13.32 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.54 and a beta of 1.09. The business has a fifty day simple moving average of $86.83 and a 200-day simple moving average of $85.39.

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

Graco Dividend Announcement

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

Insider Transactions at Graco

In other Graco news, insider Timothy R. White sold 1,469 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the completion of the sale, the insider owned 51,430 shares in the company, valued at $4,664,701. This represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea Helen Simon bought 1,240 shares of the firm's stock in a transaction on Monday, April 27th. The shares were bought at an average cost of $80.53 per share, with a total value of $99,857.20. Following the purchase, the director directly owned 1,240 shares in the company, valued at approximately $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 19,394 shares of company stock worth $1,739,326. 2.18% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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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