Claro Advisors LLC Has $1.25 Million Stake in Graco Inc. (NYSE:GGG)

Claro Advisors LLC lifted its stake in shares of Graco Inc. (NYSE:GGG) by 60.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,264 shares of the industrial products company’s stock after acquiring an additional 5,352 shares during the period. Claro Advisors LLC’s holdings in Graco were worth $1,248,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. PineStone Asset Management Inc. raised its holdings in shares of Graco by 134.4% during the second quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock valued at $330,532,000 after purchasing an additional 2,390,602 shares during the period. Bank of New York Mellon Corp increased its position in Graco by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock valued at $137,361,000 after buying an additional 91,794 shares in the last quarter. TD Asset Management Inc raised its stake in Graco by 14.5% during the 1st quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock worth $134,618,000 after buying an additional 182,470 shares during the period. Flossbach Von Storch AG bought a new position in Graco in the first quarter worth approximately $111,428,000. Finally, Dimensional Fund Advisors LP grew its stake in Graco by 32.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,069,292 shares of the industrial products company’s stock valued at $84,775,000 after acquiring an additional 259,819 shares during the period. 93.88% of the stock is owned by institutional investors.

Graco Stock Up 0.0 %

Shares of NYSE:GGG opened at $85.92 on Friday. The business’s 50 day moving average is $83.64 and its 200 day moving average is $83.02. Graco Inc. has a 12-month low of $69.78 and a 12-month high of $94.77. The stock has a market cap of $14.53 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.88 and a beta of 0.81.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $553.20 million for the quarter, compared to the consensus estimate of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. As a group, equities research analysts expect that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s payout ratio is 35.17%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. DA Davidson reaffirmed a “neutral” rating and set a $79.00 target price on shares of Graco in a research report on Friday, September 27th. Robert W. Baird lowered their price objective on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Royal Bank of Canada dropped their price objective on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Graco presently has an average rating of “Hold” and an average price target of $90.25.

About Graco

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.