Graco Inc. $GGG Stock Holdings Lessened by Fiera Capital Corp

Fiera Capital Corp reduced its stake in shares of Graco Inc. (NYSE:GGG) by 3.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,487,096 shares of the industrial products company’s stock after selling 169,169 shares during the quarter. Graco makes up approximately 1.3% of Fiera Capital Corp’s portfolio, making the stock its 26th largest position. Fiera Capital Corp owned about 2.71% of Graco worth $385,756,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC boosted its stake in shares of Graco by 320.7% during the 2nd quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock valued at $30,000 after buying an additional 263 shares during the period. eCIO Inc. acquired a new stake in Graco during the first quarter valued at $32,000. WPG Advisers LLC acquired a new stake in Graco during the first quarter valued at $41,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Graco by 41.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 141 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Trading Up 0.6%

Shares of Graco stock opened at $82.55 on Thursday. The firm has a fifty day simple moving average of $83.28 and a 200-day simple moving average of $84.50. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.71 and a beta of 1.08. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 22nd. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $543.36 million during the quarter, compared to analyst estimates of $563.07 million. Graco had a net margin of 22.72% and a return on equity of 18.89%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. As a group, research analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Monday, October 20th were given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, October 20th. Graco’s dividend payout ratio (DPR) is currently 37.54%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. KeyCorp reiterated a “sector weight” rating on shares of Graco in a report on Thursday, October 23rd. Weiss Ratings cut shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Robert W. Baird set a $89.00 target price on shares of Graco in a research report on Friday, October 24th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Graco presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.00.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.