Public Employees Retirement System of Ohio Sells 1,564 Shares of Graco Inc. (NYSE:GGG)

Public Employees Retirement System of Ohio decreased its holdings in shares of Graco Inc. (NYSE:GGG) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,847 shares of the industrial products company’s stock after selling 1,564 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Graco were worth $5,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC bought a new position in shares of Graco in the 4th quarter valued at approximately $25,000. TD Private Client Wealth LLC boosted its position in Graco by 118.0% during the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 190 shares during the period. National Pension Service acquired a new position in Graco during the fourth quarter valued at approximately $34,000. Whipplewood Advisors LLC bought a new position in shares of Graco in the fourth quarter valued at approximately $37,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Graco in the fourth quarter worth $61,000. Institutional investors own 93.88% of the company’s stock.

Graco Stock Down 1.4%

Shares of NYSE:GGG opened at $83.79 on Thursday. The company has a market cap of $14.00 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 2.85 and a beta of 1.09. The business has a 50 day moving average price of $81.80 and a 200 day moving average price of $84.58. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $528.28 million during the quarter, compared to the consensus estimate of $526.98 million. Graco had a net margin of 23.00% and a return on equity of 19.38%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 EPS. Analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, DA Davidson set a $85.00 price objective on shares of Graco in a report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Graco has a consensus rating of “Hold” and a consensus price target of $93.00.

Insider Activity

In related news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the sale, the insider now directly owns 27,520 shares of the company’s stock, valued at $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.19% of the stock is owned by company insiders.

Graco Profile

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.