Fjarde AP Fonden Fourth Swedish National Pension Fund Lowers Stake in Graco Inc. $GGG

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in shares of Graco Inc. (NYSE:GGG) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,892 shares of the industrial products company’s stock after selling 13,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned 0.06% of Graco worth $8,106,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. AE Wealth Management LLC raised its holdings in Graco by 32.7% in the fourth quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock worth $32,652,000 after buying an additional 98,141 shares during the last quarter. Comerica Bank raised its holdings in Graco by 54.1% in the fourth quarter. Comerica Bank now owns 172,328 shares of the industrial products company’s stock worth $14,126,000 after buying an additional 60,486 shares during the last quarter. Raiffeisen Bank International AG raised its holdings in Graco by 191.8% in the third quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company’s stock worth $744,000 after buying an additional 5,790 shares during the last quarter. Swiss Life Asset Management Ltd raised its holdings in Graco by 40.5% in the third quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock worth $3,869,000 after buying an additional 13,130 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in Graco in the fourth quarter worth about $3,527,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Trading Down 0.1%

Shares of NYSE GGG opened at $74.28 on Monday. The firm has a 50 day moving average of $80.56 and a 200 day moving average of $84.51. The firm has a market capitalization of $12.33 billion, a price-to-earnings ratio of 24.20, a price-to-earnings-growth ratio of 2.40 and a beta of 0.93. Graco Inc. has a 12-month low of $73.48 and a 12-month high of $95.69.

Graco (NYSE:GGG) last announced its earnings results 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 business had revenue of $540.14 million for the quarter, compared to the consensus estimate of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.70 earnings per share. Sell-side analysts predict that Graco Inc. will post 3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Graco in a report on Monday, April 27th. Robert W. Baird reduced their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Weiss Ratings lowered shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Graco in a research note on Friday, April 24th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $94.25.

Insider Transactions at Graco

In other Graco news, Director Andrea Helen Simon bought 1,240 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the transaction, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.