Quantbot Technologies LP Makes New Investment in Graco Inc. $GGG

Key Points

• Quantbot Technologies LP acquired 219,977 Graco shares worth approximately $16.6 million during the second quarter, making Graco its fourth-largest holding and representing about 0.14% of the company.
• Institutional investors and hedge funds own 93.88% of Graco, with several firms—including William Blair Investment Management and Korea Investment Corp.—also establishing new positions in the second quarter.
• Graco reported quarterly EPS of $0.91, beating estimates by $0.10, while revenue rose 3.3% year over year to $590.55 million. The company pays an annualized $1.18 dividend, and analysts maintain a consensus “Hold” rating with a $95 price target.

Quantbot Technologies LP acquired a new position in Graco Inc. (NYSE:GGG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 219,977 shares of the industrial products company's stock, valued at approximately $16,632,000. Graco makes up approximately 0.7% of Quantbot Technologies LP's portfolio, making the stock its 4th largest position. Quantbot Technologies LP owned approximately 0.14% of Graco as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evolve Private Wealth LLC bought a new stake in shares of Graco during the 2nd quarter valued at about $308,000. William Blair Investment Management LLC bought a new stake in Graco in the second quarter worth approximately $4,774,000. Landscape Capital Management L.L.C. acquired a new position in Graco in the second quarter valued at approximately $506,000. Korea Investment CORP bought a new position in shares of Graco during the 2nd quarter worth approximately $9,286,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Graco during the 2nd quarter worth approximately $418,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Down 1.1%

Shares of NYSE:GGG opened at $80.82 on Friday. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The stock's 50 day moving average is $77.79 and its 200-day moving average is $82.02. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 2.48 and a beta of 0.92.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly 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. The business had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. Graco's revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 EPS. Equities research analysts anticipate that Graco Inc. will post 3.26 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, July 20th. Graco's dividend payout ratio (DPR) is currently 37.11%.

Wall Street Analyst Weigh In

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

Graco Company Profile

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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