Graco Inc. $GGG Stock Holdings Trimmed by Seilern Investment Management Ltd

Key Points

• Seilern Investment Management Ltd reduced its stake in Graco Inc. by 9.5%, resulting in ownership of 91,477 shares worth approximately $7.86 million.
• Graco's quarterly earnings report revealed $0.75 EPS, missing estimates, with revenue of $571.81 million, below the expected $590.57 million.
• Wall Street analysts rate Graco as a "Moderate Buy" with a price target of $94.50, while the stock currently trades around $84.46.

Seilern Investment Management Ltd reduced its position in Graco Inc. (NYSE:GGG - Free Report) by 9.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 91,477 shares of the industrial products company's stock after selling 9,639 shares during the quarter. Graco makes up about 0.5% of Seilern Investment Management Ltd's investment portfolio, making the stock its 20th biggest holding. Seilern Investment Management Ltd owned approximately 0.05% of Graco worth $7,864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Private Wealth Services LLC increased its holdings in Graco by 2.7% in the first quarter. Kestra Private Wealth Services LLC now owns 6,347 shares of the industrial products company's stock valued at $530,000 after buying an additional 169 shares during the last quarter. Values First Advisors Inc. increased its holdings in Graco by 0.8% in the first quarter. Values First Advisors Inc. now owns 23,084 shares of the industrial products company's stock valued at $1,927,000 after buying an additional 180 shares during the last quarter. Optas LLC increased its holdings in Graco by 6.0% in the first quarter. Optas LLC now owns 3,560 shares of the industrial products company's stock valued at $297,000 after buying an additional 200 shares during the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Graco by 5.5% during the first quarter. Resonant Capital Advisors LLC now owns 3,843 shares of the industrial products company's stock valued at $321,000 after purchasing an additional 202 shares during the last quarter. Finally, Trail Ridge Investment Advisors LLC grew its holdings in shares of Graco by 3.9% during the first quarter. Trail Ridge Investment Advisors LLC now owns 5,654 shares of the industrial products company's stock valued at $472,000 after purchasing an additional 210 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GGG shares. Robert W. Baird upped their target price on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Wolfe Research started coverage on Graco in a report on Wednesday, June 18th. They set an "outperform" rating for the company. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Graco presently has a consensus rating of "Moderate Buy" and a consensus target price of $94.50.

Graco Price Performance

Shares of GGG stock opened at $84.46 on Friday. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $92.86. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03. The business has a 50 day simple moving average of $85.61 and a 200 day simple moving average of $84.14.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). Graco had a return on equity of 19.05% and a net margin of 22.26%.The business had revenue of $571.81 million during the quarter, compared to the consensus estimate of $590.57 million. During the same period last year, the company earned $0.77 earnings per share. The business's quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Profile

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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