QRG Capital Management Inc. Has $1.43 Million Holdings in Graco Inc. (NYSE:GGG)

QRG Capital Management Inc. increased its position in shares of Graco Inc. (NYSE:GGG) by 12.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,363 shares of the industrial products company’s stock after purchasing an additional 1,856 shares during the period. QRG Capital Management Inc.’s holdings in Graco were worth $1,432,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC increased its position in shares of Graco by 5.5% during the second quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 120 shares during the period. Ballentine Partners LLC increased its position in shares of Graco by 3.1% during the third quarter. Ballentine Partners LLC now owns 4,222 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 128 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Graco by 7.1% during the second quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 134 shares during the period. iA Global Asset Management Inc. increased its position in shares of Graco by 8.8% during the second quarter. iA Global Asset Management Inc. now owns 1,687 shares of the industrial products company’s stock valued at $134,000 after purchasing an additional 136 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Graco by 6.3% during the second quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 141 shares during the period. 93.88% of the stock is currently owned by institutional investors.

Graco Price Performance

Shares of NYSE:GGG opened at $87.80 on Friday. The business’s fifty day moving average price is $84.38 and its two-hundred day moving average price is $82.33. Graco Inc. has a fifty-two week low of $76.28 and a fifty-two week high of $94.77. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 2.85 and a beta of 0.82.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The business had revenue of $519.21 million for the quarter, compared to the consensus estimate of $538.19 million. Graco had a return on equity of 21.24% and a net margin of 22.87%. Graco’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 EPS. Research analysts expect that Graco Inc. will post 2.92 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Monday, October 21st. Graco’s payout ratio is presently 36.04%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Robert W. Baird lowered their price objective on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada lowered their price target on Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, DA Davidson reiterated a “neutral” rating and issued a $79.00 price target on shares of Graco in a research report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Graco presently has a consensus rating of “Hold” and a consensus target price of $89.25.

Insider Transactions at Graco

In other news, insider David J. Thompson sold 3,216 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $88.31, for a total transaction of $284,004.96. Following the sale, the insider now owns 27,246 shares in the company, valued at approximately $2,406,094.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.63% of the company’s stock.

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.