Graco Inc. $GGG is Quantum Capital Management LLC NJ’s 9th Largest Position

Quantum Capital Management LLC NJ lessened its position in shares of Graco Inc. (NYSE:GGG) by 1.8% in the first quarter, Holdings Channel.com reports. The fund owned 617,929 shares of the industrial products company’s stock after selling 11,566 shares during the quarter. Graco comprises approximately 5.3% of Quantum Capital Management LLC NJ’s holdings, making the stock its 9th largest position. Quantum Capital Management LLC NJ’s holdings in Graco were worth $51,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in shares of Graco by 2.7% in the first quarter. Principal Financial Group Inc. now owns 2,390,940 shares of the industrial products company’s stock worth $199,667,000 after buying an additional 62,761 shares during the period. Northern Trust Corp boosted its position in shares of Graco by 36.7% in the fourth quarter. Northern Trust Corp now owns 1,929,952 shares of the industrial products company’s stock worth $162,676,000 after buying an additional 518,462 shares during the period. Invesco Ltd. boosted its position in shares of Graco by 1.6% in the first quarter. Invesco Ltd. now owns 1,828,962 shares of the industrial products company’s stock worth $152,737,000 after buying an additional 28,795 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Graco by 48.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,497,164 shares of the industrial products company’s stock worth $126,196,000 after buying an additional 486,277 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Graco by 7.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,191,033 shares of the industrial products company’s stock worth $100,392,000 after buying an additional 79,881 shares during the period. 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. Robert W. Baird upped their target price on Graco from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, July 25th. Wolfe Research initiated coverage on Graco in a research note on Wednesday, June 18th. They set an “outperform” rating on the stock. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Graco has an average rating of “Moderate Buy” and an average price target of $94.50.

Graco Stock Up 1.5%

GGG opened at $86.19 on Wednesday. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $92.86. The firm has a market cap of $14.28 billion, a PE ratio of 30.56, a P/E/G ratio of 2.87 and a beta of 1.04. The business has a fifty day simple moving average of $85.66 and a 200-day simple moving average of $84.14.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $571.81 million for the quarter, compared to analyst estimates of $590.57 million. Graco had a net margin of 22.26% and a return on equity of 19.05%. Graco’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. On average, equities research analysts anticipate that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st were paid a $0.275 dividend. The ex-dividend date was Monday, July 21st. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. Graco’s payout ratio is presently 39.01%.

Graco Company 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.