Nykredit A S Takes $6.05 Million Position in Graco Inc. $GGG

Nykredit A S bought a new stake in shares of Graco Inc. (NYSE:GGG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 80,031 shares of the industrial products company’s stock, valued at approximately $6,051,000.

Several other institutional investors and hedge funds have also bought and sold shares of GGG. Cassaday & Co Wealth Management LLC bought a new position in shares of Graco in the first quarter worth approximately $26,000. Whipplewood Advisors LLC raised its holdings in Graco by 2,650.0% during the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after buying an additional 318 shares during the last quarter. Essential Partners LLC raised its holdings in Graco by 78.6% during the 1st quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock valued at $30,000 after buying an additional 158 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in Graco by 2,540.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock valued at $40,000 after buying an additional 508 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after buying an additional 452 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Graco Price Performance

GGG stock opened at $77.93 on Monday. Graco Inc. has a 1 year low of $72.51 and a 1 year high of $95.69. The company has a market cap of $12.62 billion, a P/E ratio of 24.51, a PEG ratio of 2.44 and a beta of 0.92. The firm has a 50-day moving average of $78.38 and a 200 day moving average of $80.96.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.81 by $0.10. Graco had a net margin of 23.53% and a return on equity of 19.54%. The business had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. During the same period last year, the business posted $0.75 earnings per share. Graco’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Graco Inc. will post 3.19 earnings per share for the current fiscal year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, July 20th. Graco’s dividend payout ratio (DPR) is presently 37.11%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GGG. Robert W. Baird set a $94.00 price objective on shares of Graco in a research report on Friday, July 24th. Royal Bank Of Canada raised their target price on Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. DA Davidson restated a “neutral” rating and set a $85.00 price target on shares of Graco in a report on Monday, July 27th. Weiss Ratings raised Graco from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 4th. Finally, Wolfe Research lowered Graco from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Graco currently has an average rating of “Hold” and a consensus target price of $95.00.

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.