Quantum Private Wealth LLC Reduces Stake in Graco Inc. (NYSE:GGG)

Quantum Private Wealth LLC lowered its stake in Graco Inc. (NYSE:GGG) by 3.7% during the third quarter, Holdings Channel.com reports. The firm owned 8,029 shares of the industrial products company’s stock after selling 311 shares during the quarter. Quantum Private Wealth LLC’s holdings in Graco were worth $703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of Graco by 1,010.8% in the first quarter. SG Americas Securities LLC now owns 55,886 shares of the industrial products company’s stock worth $5,223,000 after acquiring an additional 50,855 shares during the last quarter. Vident Advisory LLC raised its stake in Graco by 567.4% during the first quarter. Vident Advisory LLC now owns 42,899 shares of the industrial products company’s stock valued at $4,009,000 after buying an additional 36,471 shares in the last quarter. TD Asset Management Inc grew its holdings in shares of Graco by 14.5% during the first quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock valued at $134,618,000 after purchasing an additional 182,470 shares during the last quarter. M&G Plc grew its holdings in shares of Graco by 2.0% during the second quarter. M&G Plc now owns 483,535 shares of the industrial products company’s stock valued at $38,199,000 after purchasing an additional 9,673 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Graco by 2.9% in the 1st quarter. Acadian Asset Management LLC now owns 884,912 shares of the industrial products company’s stock worth $82,683,000 after buying an additional 24,827 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insider Activity

In other Graco news, insider David J. Thompson sold 3,216 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total value of $284,004.96. Following the completion of the transaction, the insider now directly owns 27,246 shares in the company, valued at $2,406,094.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

GGG has been the subject of a number of research reports. Royal Bank of Canada decreased their price target on Graco from $96.00 to $93.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. DA Davidson reaffirmed a “neutral” rating and issued a $79.00 price target on shares of Graco in a research report on Friday, September 27th. Finally, Robert W. Baird reduced their target price on shares of Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Graco has a consensus rating of “Hold” and an average price target of $89.25.

Graco Stock Performance

NYSE:GGG opened at $86.99 on Friday. The firm has a market cap of $14.69 billion, a P/E ratio of 30.93, a P/E/G ratio of 2.85 and a beta of 0.82. Graco Inc. has a 52 week low of $76.28 and a 52 week high of $94.77. The firm’s fifty day moving average is $84.29 and its 200-day moving average is $82.33.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $519.21 million during the quarter, compared to analysts’ expectations of $538.19 million. Graco had a net margin of 22.87% and a return on equity of 21.24%. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. As a group, sell-side analysts anticipate that Graco Inc. will post 2.92 earnings per share for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Monday, October 21st were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Monday, October 21st. Graco’s dividend payout ratio (DPR) is currently 36.04%.

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.