Graco Inc. $GGG Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its stake in Graco Inc. (NYSE: GGG) by 1.9% in Q2, now holding 202,725 shares valued at $17.43 million. Other institutional investors also adjusted their positions. Graco's stock opened at $82.22, with a market cap of $13.63 billion. The company reported Q3 earnings of $0.73 EPS, missing estimates, and declared a quarterly dividend of $0.275. Analysts have mixed ratings on Graco, with an average target price of $94.00 and a "Moderate Buy" rating.

Envestnet Asset Management Inc. lessened its position in Graco Inc. (NYSE:GGG - Free Report) by 1.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,725 shares of the industrial products company's stock after selling 3,843 shares during the period. Envestnet Asset Management Inc. owned about 0.12% of Graco worth $17,428,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in Graco by 41.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 481 shares of the industrial products company's stock worth $41,000 after acquiring an additional 141 shares during the period. WCM Investment Management LLC lifted its stake in shares of Graco by 0.4% during the 2nd quarter. WCM Investment Management LLC now owns 36,629 shares of the industrial products company's stock worth $3,156,000 after purchasing an additional 156 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of Graco by 2.7% during the first quarter. Kestra Private Wealth Services LLC now owns 6,347 shares of the industrial products company's stock worth $530,000 after purchasing an additional 169 shares during the last quarter. Trail Ridge Investment Advisors LLC grew its position in shares of Graco by 3.9% in the first quarter. Trail Ridge Investment Advisors LLC now owns 5,654 shares of the industrial products company's stock valued at $472,000 after purchasing an additional 210 shares during the period. Finally, Crestwood Advisors Group LLC grew its position in shares of Graco by 6.9% in the first quarter. Crestwood Advisors Group LLC now owns 3,471 shares of the industrial products company's stock valued at $290,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Trading Up 0.7%

Shares of GGG stock opened at $82.22 on Thursday. The firm has a fifty day simple moving average of $83.61 and a 200-day simple moving average of $84.41. The company has a market capitalization of $13.63 billion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 2.71 and a beta of 1.08. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $92.86.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data 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 during 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 business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 EPS. Equities research analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Monday, October 20th were paid a $0.275 dividend. The ex-dividend date was Monday, October 20th. This represents a $1.10 annualized dividend and a dividend yield of 1.3%. Graco's payout ratio is 37.54%.

Analyst Upgrades and Downgrades

Several equities analysts 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. KeyCorp reaffirmed a "sector weight" rating on shares of Graco in a research note on Thursday, October 23rd. Finally, Robert W. Baird set a $89.00 price objective on shares of Graco in a report on Friday, October 24th. Three equities 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, the company has an average rating of "Moderate Buy" and an average target price of $94.00.

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About Graco

(Free Report)

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.

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