Graco Inc. $GGG Shares Bought by Nippon Life Global Investors Americas Inc.

Key Points

• Nippon Life Global Investors Americas Inc. has increased its stake in Graco Inc. by 27.6%, purchasing an additional 5,650 shares, bringing its total holdings to 26,120 shares worth $2.18 million.
• Graco reported earnings of $0.75 per share, missing the expected $0.78, with revenue of $571.81 million compared to the $590.57 million consensus estimate, reflecting a 3.4% increase year-over-year.
• According to recent analyst reports, Graco holds a consensus rating of "Moderate Buy" with an average target price of $94.50.

Nippon Life Global Investors Americas Inc. grew its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 27.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,120 shares of the industrial products company's stock after purchasing an additional 5,650 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in Graco were worth $2,181,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GGG. WPG Advisers LLC purchased a new stake in shares of Graco during the first quarter valued at approximately $41,000. Wood Tarver Financial Group LLC acquired a new stake in Graco in the fourth quarter valued at $46,000. Golden State Wealth Management LLC raised its holdings in Graco by 128.9% in the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 388 shares in the last quarter. National Pension Service boosted its stake in Graco by 74.8% during the 1st quarter. National Pension Service now owns 699 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 299 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in Graco by 92.6% during the 1st quarter. Brooklyn Investment Group now owns 932 shares of the industrial products company's stock worth $78,000 after acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company's stock.

Analyst Upgrades and Downgrades

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

Graco Stock Up 0.2%

GGG stock traded up $0.17 during trading on Wednesday, hitting $84.94. 183,669 shares of the company's stock traded hands, compared to its average volume of 800,290. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The stock has a fifty day moving average price of $85.82 and a two-hundred day moving average price of $84.16. The stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 2.91 and a beta of 1.03.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). Graco had a net margin of 22.26% and a return on equity of 19.05%. The firm had revenue of $571.81 million for the quarter, compared to analyst estimates of $590.57 million. During the same period last year, the firm posted $0.77 EPS. The business's revenue was up 3.4% compared to the same quarter last year. As a group, equities research analysts expect 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.