Nykredit A S Takes Position in Graco Inc. $GGG

Key Points

• Nykredit A/S initiated a position in Graco, purchasing 78,496 shares valued at approximately $5.9 million during the second quarter. Institutional investors collectively own 93.88% of the company.
• Graco reported quarterly EPS of $0.91, beating estimates of $0.81, while revenue rose 3.3% year over year to $590.55 million but fell short of analyst expectations.
• The company declared a quarterly dividend of $0.295 per share, representing an annualized payout of $1.18 and a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $95.

Nykredit A S bought a new position in Graco Inc. (NYSE:GGG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 78,496 shares of the industrial products company's stock, valued at approximately $5,935,000.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Graco during the second quarter valued at approximately $1,396,470,000. Norges Bank purchased a new stake in Graco in the fourth quarter worth $161,949,000. Caisse de depot et placement du Quebec bought a new stake in Graco in the second quarter valued at $141,667,000. Hsbc Holdings PLC purchased a new position in Graco during the 2nd quarter valued at $100,157,000. Finally, Bank of New York Mellon Corp bought a new position in Graco in the 2nd quarter worth $97,625,000. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Price Performance

NYSE:GGG opened at $76.70 on Tuesday. The firm has a market capitalization of $12.42 billion, a P/E ratio of 24.12, a PEG ratio of 2.37 and a beta of 0.92. Graco Inc. has a one year low of $72.51 and a one year high of $95.69. The company's 50-day simple moving average is $78.81 and its 200 day simple moving average is $79.67.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. Graco had a net margin of 23.53% and a return on equity of 19.54%. The firm had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. During the same period last year, the business earned $0.75 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Graco Inc. will post 3.21 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Monday, October 19th will be paid a $0.295 dividend. The ex-dividend date is Monday, October 19th. This represents a $1.18 annualized dividend and a dividend yield of 1.5%. Graco's payout ratio is currently 37.11%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Graco from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 4th. Royal Bank Of Canada boosted their price target on shares of Graco from $92.00 to $96.00 and gave the company an "outperform" rating in a research report on Friday, July 24th. DA Davidson reissued a "neutral" rating and issued a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Robert W. Baird set a $94.00 price objective on Graco in a research report on Friday, July 24th. Finally, Wolfe Research lowered Graco from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Graco presently has a consensus rating of "Hold" and an average target price of $95.00.

About Graco

Graco Inc is a manufacturer of equipment used to manage, measure, control and apply fluids and coatings. Its products include pumps, valves, meters, regulators, dispensing systems, spray equipment and automated lubrication systems used in manufacturing, construction, vehicle service and other industrial applications.

The company serves a range of end markets through businesses focused on contractor equipment, industrial systems and process equipment. Its offerings support applications such as painting and protective coatings, sealant and adhesive dispensing, lubrication, fluid transfer, water and wastewater treatment, and the handling of chemicals and other materials.

Founded in Minneapolis in 1926, Graco traces its origins to equipment developed for dispensing automotive grease.

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