US Bancorp DE Buys 60,356 Shares of Graco Inc. $GGG

Key Points

• US Bancorp DE increased its stake in Graco by 19.7% in Q4, buying 60,356 shares to hold 367,136 shares (about 0.22% of the company) valued at roughly $30.09 million, and institutional investors now own 93.88% of the stock.
• Graco missed quarterly estimates, reporting EPS of $0.66 vs. $0.75 expected and revenue of $540.14 million vs. $561.35 million expected, though revenue was up 2.2% year-over-year; the stock carries an average analyst rating of "Hold" with a $94.25 average price target.
• The company declared a quarterly dividend of $0.295 ($1.18 annualized, 1.5% yield; ex-dividend April 13, payable May 6), while insiders sold about 19,394 shares (≈$1.74M) in the past three months.

US Bancorp DE grew its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,136 shares of the industrial products company's stock after buying an additional 60,356 shares during the period. US Bancorp DE owned 0.22% of Graco worth $30,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of GGG. Goldman Sachs Group Inc. raised its position in shares of Graco by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company's stock valued at $27,592,000 after buying an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock valued at $42,000 after buying an additional 452 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Graco by 97.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company's stock valued at $152,000 after buying an additional 870 shares during the last quarter. Marshall Wace LLP raised its position in shares of Graco by 559.5% during the second quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company's stock valued at $9,293,000 after buying an additional 91,708 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Graco by 4.2% during the second quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company's stock valued at $1,830,000 after buying an additional 852 shares during the last quarter. Institutional investors own 93.88% of the company's stock.

Graco Stock Performance

Shares of GGG opened at $79.17 on Friday. The company's fifty day moving average is $86.83 and its 200 day moving average is $85.39. Graco Inc. has a fifty-two week low of $78.87 and a fifty-two week high of $95.69. The stock has a market capitalization of $13.14 billion, a PE ratio of 25.79, a P/E/G ratio of 2.56 and a beta of 0.96.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.The company's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS. As a group, research analysts forecast that Graco Inc. will post 3.13 earnings per share for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be paid a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, April 13th. Graco's payout ratio is presently 38.44%.

Analysts Set New Price Targets

GGG has been the topic of several recent analyst reports. DA Davidson reiterated a "neutral" rating and set a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Robert W. Baird reduced their price objective on shares of Graco from $96.00 to $92.00 and set a "neutral" rating on the stock 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. Jefferies Financial Group boosted their price target on shares of Graco from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $95.00 price target on shares of Graco in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $94.25.

Insider Activity at Graco

In other Graco news, EVP Angela F. Wordell sold 2,832 shares of Graco stock in a transaction on Friday, February 6th. The shares were sold at an average price of $93.22, for a total transaction of $263,999.04. Following the completion of the transaction, the executive vice president directly owned 13,360 shares of the company's stock, valued at $1,245,419.20. The trade was a 17.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy R. White sold 1,469 shares of Graco stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $90.70, for a total transaction of $133,238.30. Following the transaction, the insider directly owned 51,430 shares of the company's stock, valued at $4,664,701. The trade was a 2.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,394 shares of company stock valued at $1,739,326 over the last three months. Corporate insiders own 2.18% of the company's stock.

Graco 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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