Graco Inc. $GGG Shares Purchased by Tredje AP fonden

Tredje AP fonden lifted its holdings in Graco Inc. (NYSE:GGG) by 5,238.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,574 shares of the industrial products company’s stock after purchasing an additional 14,301 shares during the quarter. Tredje AP fonden’s holdings in Graco were worth $1,195,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GGG. Goldman Sachs Group Inc. raised its stake in Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock worth $27,592,000 after acquiring an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 452 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Graco by 97.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after buying an additional 870 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Graco by 559.5% during the 2nd quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock valued at $9,293,000 after buying an additional 91,708 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Graco by 4.2% during the 2nd quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock valued at $1,830,000 after buying an additional 852 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Up 0.0%

Shares of Graco stock opened at $75.34 on Thursday. Graco Inc. has a twelve month low of $74.39 and a twelve month high of $95.69. The business has a 50-day moving average price of $83.20 and a 200 day moving average price of $85.04. The firm has a market cap of $12.50 billion, a PE ratio of 24.54, a P/E/G ratio of 2.42 and a beta of 0.96.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The business had revenue of $540.14 million during the quarter, compared to analysts’ expectations of $561.35 million. During the same quarter in the prior year, the firm earned $0.70 EPS. Graco’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, sell-side analysts expect that Graco Inc. will post 3.12 EPS for the current year.

Insider Buying and Selling at Graco

In other Graco news, Director Andrea Helen Simon purchased 1,240 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the purchase, the director directly owned 1,240 shares in the company, valued at approximately $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings lowered Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Jefferies Financial Group lifted their price objective on Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. KeyCorp reiterated a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Finally, Robert W. Baird reduced their price objective 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 equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $94.25.

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.