WealthPLAN Partners LLC Has $2.10 Million Stock Holdings in Graco Inc. $GGG

WealthPLAN Partners LLC decreased its position in Graco Inc. (NYSE:GGG) by 28.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,784 shares of the industrial products company’s stock after selling 10,017 shares during the period. WealthPLAN Partners LLC’s holdings in Graco were worth $2,098,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of GGG. Goldman Sachs Group Inc. lifted its position in Graco by 15.6% in the first quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock worth $27,592,000 after purchasing an additional 44,573 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after buying an additional 452 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Graco by 97.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after buying an additional 870 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Graco by 559.5% during the 2nd quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock worth $9,293,000 after acquiring an additional 91,708 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Graco by 4.2% during the 2nd quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock valued at $1,830,000 after acquiring an additional 852 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Stock Down 0.6%

NYSE:GGG opened at $75.19 on Wednesday. The firm has a market cap of $12.48 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 2.44 and a beta of 0.93. Graco Inc. has a 12 month low of $73.15 and a 12 month high of $95.69. The company’s 50-day moving average price is $76.05 and its two-hundred day moving average price is $83.42.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same period in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. On average, research analysts expect that Graco Inc. will post 3.1 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Monday, July 20th will be issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Monday, July 20th. Graco’s dividend payout ratio (DPR) is currently 38.44%.

Insider Transactions at Graco

In other Graco news, Director Andrea Helen Simon acquired 1,240 shares of the business’s stock in a transaction on Monday, April 27th. The stock was purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the transaction, the director owned 1,240 shares in the company, valued at $99,857.20. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.18% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Robert W. Baird cut their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Weiss Ratings lowered Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, June 5th. DA Davidson reissued a “neutral” rating and issued a $85.00 target price on shares of Graco in a report on Monday, April 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $95.00 target price on shares of Graco in a research report on Friday, April 24th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $94.25.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.