Graco Inc. (NYSE:GGG) Shares Sold by Quantum Capital Management LLC NJ

Quantum Capital Management LLC NJ lowered its position in Graco Inc. (NYSE:GGG) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 461,066 shares of the industrial products company’s stock after selling 14,280 shares during the period. Graco comprises approximately 4.7% of Quantum Capital Management LLC NJ’s investment portfolio, making the stock its 12th biggest position. Quantum Capital Management LLC NJ’s holdings in Graco were worth $40,002,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parsons Capital Management Inc. RI increased its holdings in Graco by 179.4% in the 4th quarter. Parsons Capital Management Inc. RI now owns 77,867 shares of the industrial products company’s stock worth $6,756,000 after acquiring an additional 50,000 shares in the last quarter. Secure Asset Management LLC purchased a new stake in shares of Graco during the fourth quarter worth $2,026,000. Louisiana State Employees Retirement System purchased a new stake in Graco during the 4th quarter valued at about $4,112,000. QRG Capital Management Inc. acquired a new stake in shares of Graco in the third quarter valued at approximately $751,000. Finally, Atria Wealth Solutions Inc. boosted its position in shares of Graco by 274.4% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 13,188 shares of the industrial products company’s stock valued at $961,000 after acquiring an additional 9,666 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Price Performance

Shares of GGG stock traded down $0.08 during trading hours on Friday, reaching $81.48. 707,769 shares of the stock were exchanged, compared to its average volume of 704,262. Graco Inc. has a 12-month low of $69.78 and a 12-month high of $94.77. The business’s fifty day moving average is $87.57 and its two-hundred day moving average is $86.19. The firm has a market capitalization of $13.78 billion, a P/E ratio of 28.10, a P/E/G ratio of 2.68 and a beta of 0.84.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). The firm had revenue of $492.19 million during the quarter, compared to analysts’ expectations of $536.19 million. Graco had a net margin of 23.15% and a return on equity of 23.01%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, equities research analysts predict that Graco Inc. will post 3.05 earnings per share for the current fiscal year.

Insider Activity at Graco

In other Graco news, VP Angela F. Wordell sold 3,588 shares of Graco stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total transaction of $335,836.80. Following the completion of the sale, the vice president now directly owns 12,725 shares of the company’s stock, valued at approximately $1,191,060. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Graco news, VP Angela F. Wordell sold 3,588 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total transaction of $335,836.80. Following the sale, the vice president now owns 12,725 shares of the company’s stock, valued at $1,191,060. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Claudio Merengo sold 12,652 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $90.02, for a total transaction of $1,138,933.04. Following the sale, the insider now owns 18,847 shares of the company’s stock, valued at approximately $1,696,606.94. The disclosure for this sale can be found here. Insiders have sold 29,088 shares of company stock valued at $2,649,885 over the last quarter. 2.63% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com upgraded Graco from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank of Canada lifted their target price on Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Robert W. Baird reduced their price target on shares of Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, William Blair restated a “market perform” rating on shares of Graco in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.25.

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.