Graco Inc. $GGG Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in Graco Inc. (NYSE:GGG) by 1.6% during the 3rd quarter, Holdings Channel reports. The fund owned 16,569,646 shares of the industrial products company’s stock after selling 269,762 shares during the quarter. Vanguard Group Inc. owned about 0.10% of Graco worth $1,407,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Graco in the second quarter worth $170,661,000. AQR Capital Management LLC lifted its holdings in Graco by 116.8% in 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. Sei Investments Co. grew its position in Graco by 94.6% in the 2nd quarter. Sei Investments Co. now owns 508,176 shares of the industrial products company’s stock valued at $43,688,000 after buying an additional 246,984 shares in the last quarter. Jane Street Group LLC increased its stake in Graco by 3,165.4% during the 2nd quarter. Jane Street Group LLC now owns 249,703 shares of the industrial products company’s stock valued at $21,467,000 after buying an additional 242,056 shares during the period. Finally, Amundi raised its position in shares of Graco by 12.6% during the 2nd quarter. Amundi now owns 2,023,761 shares of the industrial products company’s stock worth $179,083,000 after buying an additional 226,284 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Analyst Ratings Changes

GGG has been the subject of several recent analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Weiss Ratings raised Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Jefferies Financial Group increased their price target on Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada lifted their price target on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Finally, Robert W. Baird set a $96.00 price objective on Graco in a report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.50.

Insider Buying and Selling

In other Graco news, EVP Kathryn L. Schoenrock sold 2,223 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the sale, the executive vice president owned 7,846 shares in the company, valued at approximately $690,918.76. The trade was a 22.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy R. White sold 1,469 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total transaction of $133,238.30. Following the sale, the insider directly owned 51,430 shares of the company’s stock, valued at $4,664,701. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 19,394 shares of company stock worth $1,739,326. Company insiders own 2.19% of the company’s stock.

Graco Stock Performance

Shares of NYSE:GGG opened at $92.97 on Friday. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.92 and a beta of 1.08. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $95.69. The company has a 50 day moving average price of $87.31 and a 200 day moving average price of $84.75.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The company had revenue of $593.16 million during the quarter, compared to the consensus estimate of $591.99 million. Graco had a return on equity of 19.49% and a net margin of 23.33%.The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, sell-side analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be given a $0.295 dividend. The ex-dividend date is Monday, April 13th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. Graco’s dividend payout ratio (DPR) is 38.19%.

Graco announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 5th that permits the company to buyback 15,000,000 outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.