ProShare Advisors LLC decreased its holdings in Graco Inc. (NYSE:GGG) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,341 shares of the industrial products company’s stock after selling 6,840 shares during the quarter. ProShare Advisors LLC owned approximately 0.18% of Graco worth $10,965,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Graco by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock valued at $460,049,000 after buying an additional 309,685 shares during the period. BlackRock Inc. grew its holdings in Graco by 1.0% in the 2nd quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock valued at $482,397,000 after buying an additional 43,669 shares during the period. Fiera Capital Corp grew its holdings in Graco by 7.3% in the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock valued at $330,196,000 after buying an additional 206,130 shares during the period. State Street Corp grew its holdings in Graco by 3.2% in the 1st quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock valued at $137,974,000 after buying an additional 45,636 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Graco by 59.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 652,883 shares of the industrial products company’s stock valued at $61,463,000 after buying an additional 244,321 shares during the period. Institutional investors own 86.85% of the company’s stock.
Graco Inc. (NYSE GGG) traded up 1.20% during trading on Friday, reaching $119.91. The company had a trading volume of 575,553 shares. The stock has a 50 day moving average of $114.70 and a 200-day moving average of $106.53. Graco Inc. has a 12 month low of $69.33 and a 12 month high of $121.40. The company has a market capitalization of $6.71 billion, a P/E ratio of 76.09 and a beta of 1.24.
Graco (NYSE:GGG) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The firm had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. During the same quarter in the prior year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities research analysts expect that Graco Inc. will post $4.53 EPS for the current fiscal year.
GGG has been the subject of several recent analyst reports. BidaskClub upgraded Graco from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Zacks Investment Research upgraded Graco from a “hold” rating to a “buy” rating and set a $127.00 target price for the company in a report on Monday, July 31st. Deutsche Bank AG reiterated a “hold” rating and set a $110.00 target price (up previously from $105.00) on shares of Graco in a report on Monday, June 5th. Royal Bank Of Canada reiterated a “hold” rating and set a $104.00 target price on shares of Graco in a report on Monday, June 5th. Finally, Wolfe Research reiterated a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $106.20.
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In related news, VP Karen Park Gallivan sold 12,242 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the completion of the sale, the vice president now owns 27,264 shares in the company, valued at approximately $3,135,360. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric Etchart sold 757 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $119.20, for a total value of $90,234.40. Following the sale, the director now owns 12,464 shares of the company’s stock, valued at approximately $1,485,708.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,499 shares of company stock valued at $7,663,509. 5.70% of the stock is owned by corporate insiders.
Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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