Northwestern Mutual Wealth Management Co. Has $45.61 Million Stake in Graco Inc. $GGG

Key Points

• Northwestern Mutual Wealth Management Co. dramatically increased its Graco stake in Q4, buying 553,688 more shares and bringing its holding to 556,362 shares worth about $45.6 million.
• Graco’s latest earnings missed Wall Street expectations, with quarterly EPS of $0.66 versus $0.75 expected and revenue of $540.1 million below estimates, even though sales were up 2.2% year over year.
• Analyst sentiment remains cautious overall: Graco has a Hold consensus rating and an average price target of $94.25, while the stock recently traded near its 52-week low at $76.29.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 20,706.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 556,362 shares of the industrial products company's stock after purchasing an additional 553,688 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.34% of Graco worth $45,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GGG. Caisse de depot et placement du Quebec boosted its position in Graco by 236.4% during the third quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company's stock worth $108,711,000 after purchasing an additional 899,174 shares during the period. AQR Capital Management LLC boosted its position in Graco by 116.8% during the second quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company's stock worth $63,201,000 after purchasing an additional 396,125 shares during the period. Schroder Investment Management Group boosted its position in Graco by 877.5% during the third quarter. Schroder Investment Management Group now owns 334,947 shares of the industrial products company's stock worth $28,300,000 after purchasing an additional 300,682 shares during the period. Nordea Investment Management AB boosted its position in Graco by 299.6% during the fourth quarter. Nordea Investment Management AB now owns 342,247 shares of the industrial products company's stock worth $28,263,000 after purchasing an additional 256,593 shares during the period. Finally, Sei Investments Co. boosted its position in Graco by 94.6% during the second quarter. Sei Investments Co. now owns 508,176 shares of the industrial products company's stock worth $43,688,000 after purchasing an additional 246,984 shares during the period. 93.88% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Andrea Helen Simon acquired 1,240 shares of the business's stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the transaction, the director directly owned 1,240 shares of the company's stock, valued at $99,857.20. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.18% of the stock is owned by corporate insiders.

Graco Stock Performance

Shares of Graco stock opened at $76.29 on Tuesday. Graco Inc. has a 52-week low of $75.57 and a 52-week high of $95.69. The firm has a 50-day moving average of $83.73 and a 200-day moving average of $85.12. The stock has a market cap of $12.66 billion, a PE ratio of 24.85, a PEG ratio of 2.43 and a beta of 0.96.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share 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 firm had revenue of $540.14 million for the quarter, compared to the consensus estimate of $561.35 million. During the same period in the prior year, the company earned $0.70 EPS. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts predict that Graco Inc. will post 3.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GGG has been the subject of a number of research analyst reports. KeyCorp reaffirmed a "sector weight" rating on shares of Graco in a research report on Tuesday, January 27th. Robert W. Baird reduced their price objective on shares of Graco from $96.00 to $92.00 and set a "neutral" rating for the company in a research report on Friday, April 24th. Weiss Ratings cut shares of Graco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 29th. DA Davidson reissued a "neutral" rating and issued a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Finally, Jefferies Financial Group boosted their target price on shares of Graco from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target 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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