Fiera Capital Corp grew its position in Graco Inc. (NYSE:GGG) by 7.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,021,561 shares of the industrial products company’s stock after acquiring an additional 206,130 shares during the quarter. Graco makes up approximately 1.6% of Fiera Capital Corp’s holdings, making the stock its 19th largest position. Fiera Capital Corp owned 5.40% of Graco worth $330,196,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Prudential Financial Inc. increased its holdings in shares of Graco by 19.0% in the 2nd quarter. Prudential Financial Inc. now owns 327,738 shares of the industrial products company’s stock valued at $35,816,000 after acquiring an additional 52,346 shares during the last quarter. Morgan Stanley boosted its position in Graco by 12.3% during the 1st quarter. Morgan Stanley now owns 148,597 shares of the industrial products company’s stock valued at $13,989,000 after purchasing an additional 16,224 shares during the period. Capstone Asset Management Co. boosted its position in Graco by 2.5% during the 2nd quarter. Capstone Asset Management Co. now owns 5,646 shares of the industrial products company’s stock valued at $617,000 after purchasing an additional 140 shares during the period. BB&T Securities LLC boosted its position in Graco by 0.5% during the 2nd quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock valued at $757,000 after purchasing an additional 36 shares during the period. Finally, Credit Suisse AG boosted its position in Graco by 10.3% during the 1st quarter. Credit Suisse AG now owns 59,672 shares of the industrial products company’s stock valued at $5,616,000 after purchasing an additional 5,584 shares during the period. Institutional investors and hedge funds own 86.85% of the company’s stock.
In related news, insider David M. Lowe sold 30,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the completion of the sale, the insider now directly owns 164,809 shares of the company’s stock, valued at approximately $19,035,439.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $1,407,830.00. Following the sale, the vice president now directly owns 27,264 shares of the company’s stock, valued at $3,135,360. The disclosure for this sale can be found here. Insiders have sold a total of 44,242 shares of company stock valued at $4,873,050 over the last ninety days. Insiders own 5.70% of the company’s stock.
Shares of Graco Inc. (NYSE GGG) traded up 0.29% on Tuesday, reaching $116.93. The company’s stock had a trading volume of 45,370 shares. The stock has a 50-day moving average of $113.58 and a 200 day moving average of $105.92. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 74.19 and a beta of 1.24. Graco Inc. has a 52 week low of $69.33 and a 52 week high of $118.04.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The firm had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. During the same period last year, the firm posted $0.89 EPS. The business’s revenue was up 9.0% on a year-over-year basis. On average, analysts expect that Graco Inc. will post $4.53 EPS for the current year.
GGG has been the subject of a number of analyst reports. BidaskClub upgraded Graco from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. Zacks Investment Research upgraded Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Monday, July 31st. Deutsche Bank AG restated a “hold” rating and set a $110.00 price objective (up previously from $105.00) on shares of Graco in a research report on Monday, June 5th. Royal Bank Of Canada restated a “hold” rating and set a $104.00 price objective on shares of Graco in a research report on Monday, June 5th. Finally, Wolfe Research restated a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Graco currently has an average rating of “Hold” and an average target price of $106.20.
Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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