Quadrature Capital Ltd Sells 2,052 Shares of Graco Inc. (NYSE:GGG)

Posted by on Mar 13th, 2023

Quadrature Capital Ltd lessened its position in Graco Inc. (NYSE:GGG – Get Rating) by 24.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,224 shares of the industrial products company’s stock after selling 2,052 shares during the quarter. Quadrature Capital Ltd’s holdings in Graco were worth $373,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont purchased a new position in Graco during the 3rd quarter valued at about $29,000. Eagle Bay Advisors LLC purchased a new position in Graco during the 2nd quarter valued at about $35,000. Fifth Third Bancorp grew its position in shares of Graco by 76.8% in the 3rd quarter. Fifth Third Bancorp now owns 631 shares of the industrial products company’s stock worth $38,000 after buying an additional 274 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of Graco in the 3rd quarter worth approximately $78,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Graco by 1,481.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the industrial products company’s stock worth $82,000 after buying an additional 1,274 shares during the last quarter. Institutional investors own 85.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on GGG. StockNews.com raised shares of Graco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 18th. Royal Bank of Canada lifted their price objective on shares of Graco from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, November 14th. Robert W. Baird boosted their target price on shares of Graco from $66.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 1st. Finally, Seaport Res Ptn upgraded shares of Graco from a “neutral” rating to a “buy” rating in a research note on Thursday, February 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Graco currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Insider Transactions at Graco

In other news, CFO David M. Lowe sold 31,128 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $70.17, for a total transaction of $2,184,251.76. Following the transaction, the chief financial officer now directly owns 601,770 shares in the company, valued at $42,226,200.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Sant R. William Van sold 20,820 shares of the stock in a transaction on Monday, February 6th. The stock was sold at an average price of $71.14, for a total transaction of $1,481,134.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Lowe sold 31,128 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $70.17, for a total value of $2,184,251.76. Following the sale, the chief financial officer now directly owns 601,770 shares of the company’s stock, valued at $42,226,200.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 57,948 shares of company stock worth $4,096,787. Insiders own 3.52% of the company’s stock.

Graco Stock Down 2.1 %

Shares of GGG opened at $67.65 on Monday. The stock has a market capitalization of $11.35 billion, a PE ratio of 25.34, a P/E/G ratio of 2.43 and a beta of 0.78. Graco Inc. has a 1 year low of $56.48 and a 1 year high of $72.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.82 and a current ratio of 3.01. The company’s 50-day simple moving average is $69.51 and its 200-day simple moving average is $67.11.

Graco (NYSE:GGG – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The industrial products company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.04. The business had revenue of $555.05 million for the quarter, compared to analysts’ expectations of $556.72 million. Graco had a net margin of 21.49% and a return on equity of 25.67%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.66 earnings per share. Analysts forecast that Graco Inc. will post 2.78 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 3rd. Shareholders of record on Monday, April 17th will be paid a $0.235 dividend. The ex-dividend date is Friday, April 14th. This represents a $0.94 annualized dividend and a yield of 1.39%. Graco’s dividend payout ratio is currently 35.21%.

Graco Profile

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Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies and Industrial Products divisions.

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Institutional Ownership by Quarter for Graco (NYSE:GGG)

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