Eurizon Capital SGR S.p.A. Takes Position in Graco Inc. $GGG

Eurizon Capital SGR S.p.A. acquired a new stake in Graco Inc. (NYSE:GGG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,538 shares of the industrial products company’s stock, valued at approximately $2,179,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GGG. Goldman Sachs Group Inc. boosted its stake in shares of Graco by 15.6% in the first quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after purchasing an additional 44,573 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Graco by 982.6% in the first 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. EverSource Wealth Advisors LLC boosted its stake in shares of Graco by 97.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 870 shares during the period. Marshall Wace LLP boosted its stake in shares of Graco by 559.5% in the second quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock valued at $9,293,000 after purchasing an additional 91,708 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Graco by 4.2% in the second quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock valued at $1,830,000 after purchasing an additional 852 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 equities research analysts have commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research report on Friday, April 24th. Weiss Ratings cut shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Finally, Robert W. Baird decreased their price objective on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $94.25.

Graco Trading Up 0.1%

Graco stock opened at $74.01 on Wednesday. The stock has a market cap of $12.28 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 2.38 and a beta of 0.93. The company has a fifty day simple moving average of $81.44 and a 200-day simple moving average of $84.69. Graco Inc. has a 12-month low of $73.56 and a 12-month high of $95.69.

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

Insider Buying and Selling at Graco

In related news, Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction dated 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 transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.18% of the company’s stock.

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.