77,060 Graco Inc. $GGG Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC reduced its holdings in shares of Graco Inc. (NYSE:GGG) by 22.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 272,584 shares of the industrial products company’s stock after selling 77,060 shares during the quarter. Conestoga Capital Advisors LLC’s holdings in Graco were worth $20,945,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC lifted its stake in Graco by 398.8% during the third quarter. Chicago Partners Investment Group LLC now owns 14,096 shares of the industrial products company’s stock worth $944,000 after purchasing an additional 11,270 shares during the last quarter. Provenance Wealth Advisors LLC purchased a new position in Graco in the third quarter valued at approximately $50,000. Next Level Wealth Planning LLC purchased a new position in Graco in the third quarter valued at approximately $28,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Graco in the third quarter valued at approximately $29,000. Finally, ProShare Advisors LLC raised its holdings in Graco by 21.2% during the third quarter. ProShare Advisors LLC now owns 372,455 shares of the industrial products company’s stock worth $28,619,000 after purchasing an additional 65,114 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on GGG. Royal Bank Of Canada restated an “outperform” rating and set a $82.00 price objective (down from $95.00) on shares of Graco in a research report on Friday, October 23rd. BNP Paribas Exane dropped their target price on shares of Graco from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday, October 23rd. DA Davidson reiterated a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Robert W. Baird set a $80.00 price target on shares of Graco in a research report on Friday, October 23rd. Finally, Wolfe Research downgraded shares of Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Graco presently has a consensus rating of “Hold” and an average price target of $87.40.

Graco Trading Up 1.0%

NYSE:GGG opened at $69.83 on Thursday. The company has a market capitalization of $11.20 billion, a PE ratio of 22.45, a P/E/G ratio of 2.16 and a beta of 0.89. Graco Inc. has a 52-week low of $65.96 and a 52-week high of $95.69. The stock’s 50 day moving average price is $76.20 and its 200 day moving average price is $80.81. The company has a quick ratio of 1.24, a current ratio of 2.12 and a debt-to-equity ratio of 0.04.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The firm had revenue of $586.39 million during the quarter, compared to analysts’ expectations of $590.17 million. Graco had a net margin of 22.40% and a return on equity of 20.13%. Graco’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. On average, research analysts anticipate that Graco Inc. will post 3.20 EPS for the current year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 4th. Stockholders of record on Monday, October 19th were issued a $0.2950 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, October 19th. Graco’s payout ratio is presently 37.94%.

Graco Profile

Graco Inc is a global manufacturer of equipment used to move, measure, control, dispense and apply fluids and other materials. Its products are used in industrial, commercial and residential applications involving paints, coatings, sealants, adhesives, lubricants, chemicals and other fluids.

The company’s product portfolio includes pumps, valves, meters, regulators, fluid-management systems, lubrication equipment, spray-applied coating and finishing systems, sealant and adhesive equipment, and contractor-oriented painting and texture application tools.