State Board of Administration of Florida Retirement System Has $14.90 Million Holdings in Graco Inc. $GGG

State Board of Administration of Florida Retirement System grew its holdings in Graco Inc. (NYSE:GGG) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 173,363 shares of the industrial products company’s stock after buying an additional 1,443 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Graco were worth $14,904,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GGG. LPL Financial LLC lifted its holdings in Graco by 9.3% during the 1st quarter. LPL Financial LLC now owns 74,529 shares of the industrial products company’s stock valued at $6,224,000 after purchasing an additional 6,335 shares during the last quarter. Argent Trust Co raised its position in shares of Graco by 8.5% in the first quarter. Argent Trust Co now owns 2,886 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 225 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of Graco during the 1st quarter worth about $274,000. Atria Wealth Solutions Inc. lifted its stake in shares of Graco by 9.5% during the 1st quarter. Atria Wealth Solutions Inc. now owns 8,748 shares of the industrial products company’s stock worth $731,000 after buying an additional 760 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Graco by 78.1% during the 1st quarter. iA Global Asset Management Inc. now owns 2,511 shares of the industrial products company’s stock worth $210,000 after buying an additional 1,101 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. KeyCorp reissued a “sector weight” rating on shares of Graco in a report on Thursday, October 23rd. Weiss Ratings downgraded Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Robert W. Baird set a $89.00 target price on Graco in a research note on Friday, October 24th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Graco Stock Down 0.3%

Shares of Graco stock opened at $82.23 on Tuesday. The stock has a market capitalization of $13.63 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.71 and a beta of 1.08. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $91.45. The company has a 50-day simple moving average of $82.24 and a two-hundred day simple moving average of $84.31.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 22nd. The industrial products company reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Graco had a return on equity of 18.89% and a net margin of 22.72%.The business had revenue of $543.36 million for the quarter, compared to the consensus estimate of $563.07 million. During the same period in the prior year, the business posted $0.71 earnings per share. The firm’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Monday, October 20th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Monday, October 20th. Graco’s dividend payout ratio (DPR) is 37.54%.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.