XTX Topco Ltd Raises Stock Holdings in Graco Inc. $GGG

XTX Topco Ltd raised its holdings in shares of Graco Inc. (NYSE:GGG) by 262.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,729 shares of the industrial products company’s stock after acquiring an additional 8,490 shares during the period. XTX Topco Ltd’s holdings in Graco were worth $1,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. NewSquare Capital LLC grew its holdings in Graco by 320.7% during the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 263 shares during the period. eCIO Inc. acquired a new position in shares of Graco in the 1st quarter valued at $32,000. WPG Advisers LLC acquired a new position in shares of Graco in the first quarter worth about $41,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Graco by 41.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 141 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Graco by 982.6% during 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. 93.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings downgraded Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Robert W. Baird set a $89.00 target price on shares of Graco in a research report on Friday, October 24th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Graco in a report on Thursday, October 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Graco presently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Graco Stock Up 0.2%

GGG stock opened at $82.44 on Monday. Graco Inc. has a fifty-two week low of $72.06 and a fifty-two week high of $91.45. The stock has a market cap of $13.67 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.71 and a beta of 1.08. The business has a 50 day moving average price of $82.28 and a 200 day moving average price of $84.34.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, October 22nd. The industrial products company reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $543.36 million for the quarter, compared to analyst estimates of $563.07 million. Graco had a return on equity of 18.89% and a net margin of 22.72%.The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. As a group, sell-side analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Monday, October 20th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.10 annualized dividend and a yield of 1.3%. Graco’s dividend payout ratio is currently 37.54%.

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.