Port Capital LLC Invests $66.97 Million in Graco Inc. $GGG

Port Capital LLC bought a new stake in Graco Inc. (NYSE:GGG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 885,786 shares of the industrial products company’s stock, valued at approximately $66,974,000. Graco comprises 2.7% of Port Capital LLC’s investment portfolio, making the stock its 13th largest position. Port Capital LLC owned 0.55% of Graco at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV lifted its stake in Graco by 0.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock valued at $1,745,000 after buying an additional 109 shares during the last quarter. Stonebridge Capital Advisors LLC grew its position in shares of Graco by 0.3% during the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after acquiring an additional 119 shares during the last quarter. ICW Investment Advisors LLC increased its holdings in shares of Graco by 5.2% in the 2nd quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 135 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Graco by 5.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock valued at $231,000 after acquiring an additional 139 shares during the period. Finally, Root Financial Partners LLC raised its position in Graco by 43.2% in the 1st quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 152 shares during the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. DA Davidson restated a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, July 27th. Wolfe Research cut shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Royal Bank Of Canada increased their target price on shares of Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Finally, Robert W. Baird set a $94.00 price target on Graco in a report on Friday, July 24th. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Graco has a consensus rating of “Hold” and an average price target of $95.00.

Graco Trading Up 1.1%

Shares of GGG opened at $79.58 on Thursday. The stock’s 50 day moving average is $78.02 and its two-hundred day moving average is $81.74. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The firm has a market capitalization of $12.89 billion, a PE ratio of 25.03, a P/E/G ratio of 2.42 and a beta of 0.92.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The business had revenue of $590.55 million during the quarter, compared to the consensus estimate of $608.06 million. During the same period in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Graco Inc. will post 3.26 EPS for the current year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a $0.295 dividend. The ex-dividend date was Monday, July 20th. This represents a $1.18 annualized dividend and a yield of 1.5%. Graco’s dividend payout ratio is presently 37.11%.

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.