Conestoga Capital Advisors LLC Increases Holdings in Graco Inc. $GGG

Conestoga Capital Advisors LLC grew its stake in Graco Inc. (NYSE:GGG) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 540,641 shares of the industrial products company’s stock after acquiring an additional 9,286 shares during the quarter. Conestoga Capital Advisors LLC owned 0.33% of Graco worth $45,765,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GGG. Mercer Global Advisors Inc. ADV boosted its stake in Graco by 0.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company’s stock worth $1,745,000 after purchasing an additional 109 shares in the last quarter. Stonebridge Capital Advisors LLC grew its position in Graco by 0.3% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after purchasing an additional 119 shares during the last quarter. ICW Investment Advisors LLC increased its stake in Graco by 5.2% during the 2nd quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company’s stock valued at $234,000 after purchasing an additional 135 shares in the last quarter. Viawealth LLC increased its stake in Graco by 0.3% during the 3rd quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock valued at $4,519,000 after purchasing an additional 137 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Graco by 5.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company’s stock worth $231,000 after buying an additional 139 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

NYSE GGG opened at $74.94 on Thursday. Graco Inc. has a one year low of $73.15 and a one year high of $95.69. The stock has a 50-day moving average of $76.76 and a 200 day moving average of $83.65. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.44 and a beta of 0.93.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The business had revenue of $540.14 million during 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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.70 EPS. On average, equities analysts predict that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Graco Announces Dividend

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

Insiders Place Their Bets

In related news, Director Andrea Helen Simon acquired 1,240 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.18% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GGG has been the topic of several analyst reports. DA Davidson reiterated a “neutral” rating and issued a $85.00 target price on shares of Graco in a research note 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 report on Friday, April 24th. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research report on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $94.25.

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.