Utah Retirement Systems Has $949,000 Stake in Graco Inc. (GGG)

Utah Retirement Systems maintained its stake in Graco Inc. (NYSE:GGG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,078 shares of the industrial products company’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in Graco were worth $949,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Creative Planning raised its stake in Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock worth $141,000 after buying an additional 76 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock worth $168,000 after buying an additional 62 shares in the last quarter. TLP Group LLC purchased a new stake in Graco during the first quarter worth approximately $193,000. Canada Pension Plan Investment Board raised its stake in Graco by 425.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,100 shares of the industrial products company’s stock worth $198,000 after buying an additional 1,700 shares in the last quarter. Finally, Park National Corp OH purchased a new stake in Graco during the first quarter worth approximately $203,000. Institutional investors own 91.07% of the company’s stock.

Institutional Ownership by Quarter for Graco (NYSE:GGG)

Shares of Graco Inc. (NYSE GGG) traded down 1.227% on Tuesday, reaching $112.315. 34,898 shares of the company’s stock traded hands. The stock has a 50-day moving average of $110.78 and a 200 day moving average of $95.48. Graco Inc. has a 12-month low of $69.33 and a 12-month high of $114.65. The firm has a market cap of $6.24 billion, a P/E ratio of 104.771 and a beta of 1.17.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 26th. The industrial products company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.30. Graco had a return on equity of 35.25% and a net margin of 4.53%. The business had revenue of $340.59 million during the quarter, compared to the consensus estimate of $315.62 million. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Graco Inc. will post $4.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Monday, July 17th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.27%. Graco’s payout ratio is currently 135.85%.

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Several research analysts have commented on GGG shares. TheStreet upgraded shares of Graco from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Friday, February 24th. Deutsche Bank AG restated a “hold” rating and issued a $110.00 price objective (up from $105.00) on shares of Graco in a report on Monday, June 5th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $104.00 price objective on shares of Graco in a report on Monday, June 5th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Graco currently has an average rating of “Hold” and an average price target of $97.40.

In related news, Director Eric Etchart sold 302 shares of Graco stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $98.20, for a total value of $29,656.40. Following the completion of the sale, the director now directly owns 8,917 shares in the company, valued at $875,649.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elena Polyakova sold 360,000 shares of Graco stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $0.12, for a total value of $43,200.00. Insiders sold 689,172 shares of company stock valued at $16,070,548 over the last 90 days. 5.70% of the stock is currently owned by corporate insiders.

Graco Company Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “GGG”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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