Public Employees Retirement Association of Colorado Reduces Stake in Graco Inc. $GGG

Public Employees Retirement Association of Colorado lowered its holdings in Graco Inc. (NYSE:GGG) by 4.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 209,952 shares of the industrial products company’s stock after selling 8,886 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.13% of Graco worth $17,210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its stake in shares of Graco by 42.6% in the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 139 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 452 shares during the period. Field & Main Bank purchased a new position in shares of Graco in the 4th quarter valued at approximately $41,000. Matrix Trust Co lifted its stake in shares of Graco by 43.0% in the 4th quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 167 shares during the period. Finally, CENTRAL TRUST Co lifted its stake in shares of Graco by 40.3% in the 3rd quarter. CENTRAL TRUST Co now owns 735 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 211 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GGG shares. Weiss Ratings cut Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Graco in a research note on Friday, April 24th. DA Davidson restated a “neutral” rating and issued a $85.00 target price on shares of Graco in a research note on Monday, April 27th. Finally, Robert W. Baird lowered their target price on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $94.25.

Insider Transactions at Graco

In related news, Director Andrea Helen Simon acquired 1,240 shares of the stock in a transaction on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the purchase, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.18% of the company’s stock.

Graco Trading Up 0.8%

Shares of NYSE:GGG opened at $75.19 on Tuesday. The stock has a fifty day simple moving average of $79.38 and a two-hundred day simple moving average of $84.25. The stock has a market capitalization of $12.48 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.40 and a beta of 0.93. Graco Inc. has a 12-month low of $73.26 and a 12-month high of $95.69.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The company had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 EPS. As a group, equities research analysts predict that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be paid a dividend of $0.295 per share. The ex-dividend date is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. Graco’s payout ratio is presently 38.44%.

About Graco

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.