VIRGINIA RETIREMENT SYSTEMS ET Al Buys 30,631 Shares of Graco Inc. $GGG

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Graco Inc. (NYSE:GGG) by 10.4% in the third quarter, Holdings Channel reports. The institutional investor owned 324,831 shares of the industrial products company’s stock after acquiring an additional 30,631 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Graco were worth $24,960,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Graco during the second quarter valued at $1,396,470,000. Caisse de depot et placement du Quebec bought a new stake in shares of Graco in the 2nd quarter worth about $141,667,000. Hsbc Holdings PLC bought a new stake in shares of Graco in the 2nd quarter worth about $100,157,000. Bank of New York Mellon Corp bought a new stake in shares of Graco in the 2nd quarter worth about $97,625,000. Finally, Port Capital LLC purchased a new position in shares of Graco during the 2nd quarter worth about $66,974,000. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Down 1.9%

Shares of NYSE:GGG opened at $67.43 on Friday. Graco Inc. has a 52-week low of $65.96 and a 52-week high of $95.69. The stock has a market cap of $10.81 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 2.11 and a beta of 0.89. The business’s 50 day moving average is $76.84 and its 200 day moving average is $81.07. The company has a quick ratio of 1.24, a current ratio of 2.12 and a debt-to-equity ratio of 0.04.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 21st. The industrial products company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The firm had revenue of $586.39 million for the quarter, compared to the consensus estimate of $590.17 million. Graco had a net margin of 22.40% and a return on equity of 20.13%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. Sell-side analysts predict that Graco Inc. will post 3.20 EPS for the current year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Monday, October 19th will be given a dividend of $0.2950 per share. This represents a $1.18 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Monday, October 19th. Graco’s dividend payout ratio (DPR) is 37.94%.

Wall Street Analysts Forecast Growth

GGG has been the subject of a number of recent analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $82.00 price objective (down from $95.00) on shares of Graco in a research report on Friday, October 23rd. Robert W. Baird set a $80.00 price objective on shares of Graco in a research note on Friday, October 23rd. BNP Paribas Exane dropped their target price on Graco from $95.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, October 23rd. Finally, Wolfe Research cut Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Graco presently has a consensus rating of “Hold” and a consensus price target of $87.40.

Graco Company Profile

Graco Inc is a global manufacturer of equipment used to move, measure, control, dispense and apply fluids and other materials. Its products are used in industrial, commercial and residential applications involving paints, coatings, sealants, adhesives, lubricants, chemicals and other fluids.

The company’s product portfolio includes pumps, valves, meters, regulators, fluid-management systems, lubrication equipment, spray-applied coating and finishing systems, sealant and adhesive equipment, and contractor-oriented painting and texture application tools.