Graco Inc. (NYSE:GGG) Shares Purchased by WealthPlan Investment Management LLC

WealthPlan Investment Management LLC raised its holdings in shares of Graco Inc. (NYSE:GGG) by 5.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 124,131 shares of the industrial products company’s stock after purchasing an additional 6,169 shares during the quarter. Graco comprises about 1.1% of WealthPlan Investment Management LLC’s holdings, making the stock its 26th biggest position. WealthPlan Investment Management LLC’s holdings in Graco were worth $10,863,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GGG. Allspring Global Investments Holdings LLC grew its holdings in shares of Graco by 671.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,320 shares of the industrial products company’s stock valued at $123,000 after purchasing an additional 1,149 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of Graco by 9.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,950 shares of the industrial products company’s stock valued at $463,000 after buying an additional 441 shares during the period. Quantbot Technologies LP grew its position in Graco by 114.1% in the first quarter. Quantbot Technologies LP now owns 8,288 shares of the industrial products company’s stock worth $775,000 after acquiring an additional 4,417 shares during the period. QRG Capital Management Inc. raised its position in Graco by 13.9% in the first quarter. QRG Capital Management Inc. now owns 12,458 shares of the industrial products company’s stock valued at $1,164,000 after purchasing an additional 1,519 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake in shares of Graco by 9.1% in the 1st quarter. Bleakley Financial Group LLC now owns 12,466 shares of the industrial products company’s stock valued at $1,165,000 after purchasing an additional 1,043 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Insider Transactions at Graco

In other Graco news, insider David J. Thompson sold 3,216 shares of the company’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 in the company, valued at $2,406,094.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.63% of the company’s stock.

Graco Price Performance

Shares of Graco stock opened at $89.04 on Tuesday. The stock has a market capitalization of $15.03 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 3.00 and a beta of 0.82. The business has a 50-day moving average of $84.49 and a 200 day moving average of $82.27. Graco Inc. has a 12 month low of $77.03 and a 12 month high of $94.77.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $538.19 million. During the same period in the previous year, the business posted $0.76 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities research analysts anticipate that Graco Inc. will post 2.92 earnings per share for the current year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $1.02 annualized dividend and a dividend yield of 1.15%. Graco’s dividend payout ratio (DPR) is 36.04%.

Wall Street Analysts Forecast Growth

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

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.