Prudential PLC Increases Stock Holdings in Graco Inc. $GGG

Prudential PLC lifted its stake in shares of Graco Inc. (NYSE:GGG) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 153,131 shares of the industrial products company’s stock after buying an additional 15,959 shares during the period. Prudential PLC owned about 0.09% of Graco worth $12,552,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Stonebridge Capital Advisors LLC boosted its position in Graco by 0.3% in the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock worth $3,562,000 after purchasing an additional 119 shares during the last quarter. Fifth Third Bancorp boosted its position in Graco by 7.7% in the third quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock worth $149,000 after purchasing an additional 125 shares during the last quarter. ICW Investment Advisors LLC boosted its position in Graco by 4.6% in the third quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock worth $242,000 after purchasing an additional 126 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Graco by 7.8% in the third quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 135 shares during the last quarter. Finally, Viawealth LLC boosted its position in Graco by 0.3% in the third quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock worth $4,519,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Price Performance

Shares of GGG opened at $74.28 on Friday. The firm has a market cap of $12.33 billion, a PE ratio of 24.20, a PEG ratio of 2.40 and a beta of 0.93. The stock’s fifty day moving average price is $80.56 and its two-hundred day moving average price is $84.47. Graco Inc. has a 1 year low of $73.48 and a 1 year high of $95.69.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.09). The firm had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 earnings per share. Sell-side analysts anticipate that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Andrea Helen Simon bought 1,240 shares of the stock in a transaction on Monday, April 27th. The shares were purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the purchase, the director directly owned 1,240 shares in the company, valued at $99,857.20. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GGG has been the topic of several research analyst reports. Robert W. Baird cut their price objective on Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Weiss Ratings cut Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. DA Davidson reissued a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research report on Friday, April 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Graco currently has an average rating of “Hold” and a consensus target price of $94.25.

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.