Vancity Investment Management Ltd Purchases Shares of 7,125 Graco Inc. $GGG

Vancity Investment Management Ltd purchased a new stake in Graco Inc. (NYSE:GGG) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,125 shares of the industrial products company’s stock, valued at approximately $539,000.

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

Wall Street Analysts Forecast Growth

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

Graco Trading Up 0.1%

Graco stock opened at $77.93 on Monday. The firm has a market capitalization of $12.62 billion, a P/E ratio of 24.51, a P/E/G ratio of 2.44 and a beta of 0.92. Graco Inc. has a twelve month low of $72.51 and a twelve month high of $95.69. The stock’s fifty day simple moving average is $78.38 and its 200-day simple moving average is $80.96.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The firm 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 revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Graco Inc. will post 3.19 earnings per share for the current year.

Graco Dividend Announcement

The business also recently disclosed 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 annualized dividend 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%.

Graco 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.