Quantum Private Wealth LLC Has $703,000 Holdings in Graco Inc. (NYSE:GGG)

Quantum Private Wealth LLC cut its holdings in shares of Graco Inc. (NYSE:GGG) by 3.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,029 shares of the industrial products company’s stock after selling 311 shares during the quarter. Quantum Private Wealth LLC’s holdings in Graco were worth $703,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GGG. V Square Quantitative Management LLC lifted its holdings in shares of Graco by 5.5% during the 2nd quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock valued at $183,000 after buying an additional 120 shares during the last quarter. Ballentine Partners LLC boosted its stake in Graco by 3.1% in the third quarter. Ballentine Partners LLC now owns 4,222 shares of the industrial products company’s stock worth $369,000 after purchasing an additional 128 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Graco by 7.1% during the second quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 134 shares during the period. iA Global Asset Management Inc. lifted its stake in shares of Graco by 8.8% during the second quarter. iA Global Asset Management Inc. now owns 1,687 shares of the industrial products company’s stock valued at $134,000 after acquiring an additional 136 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Graco by 6.3% in the second quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 141 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Price Performance

Shares of GGG opened at $86.99 on Friday. The company has a market capitalization of $14.69 billion, a P/E ratio of 30.93, a P/E/G ratio of 2.85 and a beta of 0.82. Graco Inc. has a 1-year low of $76.28 and a 1-year high of $94.77. The firm’s 50 day simple moving average is $84.29 and its 200 day simple moving average is $82.33.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a net margin of 22.87% and a return on equity of 21.24%. The business had revenue of $519.21 million for the quarter, compared to the consensus estimate of $538.19 million. During the same quarter last year, the firm posted $0.76 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. On average, equities analysts anticipate that Graco Inc. will post 2.92 earnings per share for the current year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.02 annualized dividend and a yield of 1.17%. Graco’s payout ratio is presently 36.04%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GGG shares. Royal Bank of Canada decreased their price objective on Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a report on Friday, October 25th. DA Davidson restated a “neutral” rating and issued a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Finally, Robert W. Baird lowered their price objective on shares of Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Graco has a consensus rating of “Hold” and an average target price of $89.25.

Insider Activity at Graco

In related news, insider David J. Thompson sold 3,216 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $88.31, for a total transaction of $284,004.96. Following the sale, the insider now owns 27,246 shares of the company’s stock, valued at $2,406,094.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.63% of the stock is currently owned by insiders.

Graco Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.