California Public Employees Retirement System Increases Stock Position in Graco Inc. $GGG

California Public Employees Retirement System raised its stake in shares of Graco Inc. (NYSE:GGG) by 8.1% in the first quarter, Holdings Channel.com reports. The fund owned 315,832 shares of the industrial products company’s stock after purchasing an additional 23,684 shares during the period. California Public Employees Retirement System’s holdings in Graco were worth $26,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whipplewood Advisors LLC lifted its holdings in shares of Graco by 2,650.0% in the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 318 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Graco by 982.6% in the 1st 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 last quarter. Field & Main Bank purchased a new stake in Graco in the fourth quarter valued at approximately $41,000. Root Financial Partners LLC raised its position in Graco by 43.2% in the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 152 shares during the period. Finally, Matrix Trust Co lifted its stake in Graco by 43.0% during the fourth quarter. Matrix Trust Co now owns 555 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 167 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Graco

In related news, Director Andrea Helen Simon acquired 1,240 shares of the firm’s 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 purchase, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.18% of the stock is owned by corporate insiders.

Graco Stock Up 1.2%

Shares of GGG stock opened at $73.99 on Thursday. The firm has a 50 day moving average of $74.97 and a two-hundred day moving average of $82.71. The stock has a market capitalization of $12.28 billion, a PE ratio of 24.10, a P/E/G ratio of 2.36 and a beta of 0.93. Graco Inc. has a 52 week low of $72.51 and a 52 week 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 analysts’ consensus estimates of $0.81 by $0.10. The business had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. Analysts expect that Graco Inc. will post 3.1 EPS for the current fiscal year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be given a $0.295 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. Graco’s dividend payout ratio (DPR) is currently 38.44%.

Wall Street Analyst Weigh In

GGG has been the subject of several research analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, April 27th. Wolfe Research lowered Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Royal Bank Of Canada restated an “outperform” rating and set a $92.00 target price (down from $95.00) on shares of Graco in a report on Thursday, July 16th. Weiss Ratings downgraded Graco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Robert W. Baird cut their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $93.50.

Graco Company 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.