Public Employees Retirement Association of Colorado Lowers Holdings in Graco Inc. $GGG

Public Employees Retirement Association of Colorado decreased its holdings in Graco Inc. (NYSE:GGG) by 4.1% in the fourth quarter, Holdings Channel reports. The firm owned 209,952 shares of the industrial products company’s stock after selling 8,886 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Graco were worth $17,210,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Maren Capital LLC increased its holdings in shares of Graco by 2.5% in the 4th quarter. Maren Capital LLC now owns 788,649 shares of the industrial products company’s stock worth $64,646,000 after purchasing an additional 19,176 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of Graco by 9.3% in the 4th quarter. Focus Partners Wealth now owns 52,534 shares of the industrial products company’s stock worth $4,435,000 after purchasing an additional 4,460 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Graco in the 4th quarter worth $2,251,000. Entropy Technologies LP increased its holdings in shares of Graco by 31.3% in the 4th quarter. Entropy Technologies LP now owns 28,981 shares of the industrial products company’s stock worth $2,376,000 after purchasing an additional 6,908 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Graco by 89.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 528,346 shares of the industrial products company’s stock worth $43,309,000 after purchasing an additional 249,070 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Price Performance

Shares of GGG opened at $75.19 on Tuesday. Graco Inc. has a one year low of $73.26 and a one year high of $95.69. The firm has a market capitalization of $12.48 billion, a P/E ratio of 24.49, a PEG ratio of 2.40 and a beta of 0.93. The business has a fifty day moving average of $79.38 and a 200 day moving average of $84.25.

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

Graco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be issued a $0.295 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.18 annualized dividend and a dividend yield of 1.6%. Graco’s payout ratio is presently 38.44%.

Insider Activity at Graco

In other news, Director Andrea Helen Simon acquired 1,240 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the acquisition, the director directly owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 target price on shares of Graco in a report on Friday, April 24th. DA Davidson reissued a “neutral” rating and issued a $85.00 target price on shares of Graco in a report on Monday, April 27th. Robert W. Baird reduced their target price on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Finally, Weiss Ratings lowered Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 5th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Graco presently has an average rating of “Hold” and a consensus price target of $94.25.

About Graco

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.