OMERS ADMINISTRATION Corp Acquires Shares of 25,453 Graco Inc. $GGG

OMERS ADMINISTRATION Corp acquired a new stake in shares of Graco Inc. (NYSE:GGG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 25,453 shares of the industrial products company’s stock, valued at approximately $1,925,000.

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

Graco Trading Up 1.1%

Shares of GGG opened at $79.58 on Thursday. The stock has a 50 day moving average of $78.02 and a 200 day moving average of $81.74. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 2.42 and a beta of 0.92. Graco Inc. has a 12 month low of $72.51 and a 12 month high of $95.69.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.10. The business had revenue of $590.55 million for the quarter, compared to analysts’ expectations of $608.06 million. Graco had a return on equity of 19.54% and a net margin of 23.53%.The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, equities research analysts predict that Graco Inc. will post 3.26 earnings per share for the current year.

Graco Announces Dividend

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

Analyst Ratings Changes

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

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.