Vanguard Personalized Indexing Management LLC Cuts Stake in Graco Inc. (NYSE:GGG)

Vanguard Personalized Indexing Management LLC decreased its stake in Graco Inc. (NYSE:GGG) by 23.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,309 shares of the industrial products company’s stock after selling 5,344 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Graco were worth $1,369,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GGG. V Square Quantitative Management LLC boosted its position in Graco by 5.5% in the 2nd quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock valued at $183,000 after buying an additional 120 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Graco by 7.1% in the second quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock worth $161,000 after acquiring an additional 134 shares in the last quarter. iA Global Asset Management Inc. boosted its holdings in Graco by 8.8% in 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 last quarter. Park Avenue Securities LLC grew its stake in Graco by 1.9% during the 1st quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock valued at $700,000 after purchasing an additional 139 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Graco by 6.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Price Performance

GGG opened at $84.59 on Monday. The stock has a market cap of $14.31 billion, a P/E ratio of 29.17, a P/E/G ratio of 2.76 and a beta of 0.81. The stock’s 50 day moving average price is $82.03 and its 200 day moving average price is $83.88. Graco Inc. has a 12 month low of $69.78 and a 12 month high of $94.77.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The company had revenue of $553.20 million during the quarter, compared to analyst estimates of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. Equities analysts anticipate that Graco Inc. will post 2.98 EPS for the current year.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Monday, October 21st. Graco’s payout ratio is currently 35.17%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. DA Davidson reduced their price objective on shares of Graco from $82.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Robert W. Baird reduced their price target on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Royal Bank of Canada lowered their price objective on Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Finally, StockNews.com cut Graco from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Graco presently has a consensus rating of “Hold” and a consensus target price of $86.80.

Graco Company Profile

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.