Prudential PLC Buys 15,959 Shares of Graco Inc. $GGG

Prudential PLC lifted its stake in shares of Graco Inc. (NYSE:GGG) by 11.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 153,131 shares of the industrial products company’s stock after purchasing an additional 15,959 shares during the quarter. Prudential PLC’s holdings in Graco were worth $12,552,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Stonebridge Capital Advisors LLC raised its stake in shares of Graco by 0.3% during the 2nd quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company’s stock valued at $3,562,000 after purchasing an additional 119 shares during the period. Fifth Third Bancorp grew its position in Graco by 7.7% during the third quarter. Fifth Third Bancorp now owns 1,755 shares of the industrial products company’s stock worth $149,000 after buying an additional 125 shares in the last quarter. ICW Investment Advisors LLC grew its position in Graco by 4.6% during the third quarter. ICW Investment Advisors LLC now owns 2,849 shares of the industrial products company’s stock worth $242,000 after buying an additional 126 shares in the last quarter. Jones Financial Companies Lllp grew its position in Graco by 7.8% during the third quarter. Jones Financial Companies Lllp now owns 1,874 shares of the industrial products company’s stock worth $159,000 after buying an additional 135 shares in the last quarter. Finally, Viawealth LLC grew its position in Graco by 0.3% during the third quarter. Viawealth LLC now owns 53,195 shares of the industrial products company’s stock worth $4,519,000 after buying an additional 137 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Andrea Helen Simon acquired 1,240 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the acquisition, the director owned 1,240 shares of the company’s stock, valued at $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.18% of the company’s stock.

Graco Trading Down 0.0%

GGG opened at $74.28 on Friday. The stock has a 50-day moving average price of $80.56 and a 200-day moving average price of $84.47. Graco Inc. has a 12-month low of $73.48 and a 12-month high of $95.69. The stock has a market capitalization of $12.33 billion, a P/E ratio of 24.20, a PEG ratio of 2.40 and a beta of 0.93.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm had revenue of $540.14 million during the quarter, compared to analysts’ expectations of $561.35 million. During the same quarter in the previous year, the company posted $0.70 earnings per share. Graco’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that Graco Inc. will post 3.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GGG shares. Robert W. Baird reduced their target price on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 target price on shares of Graco in a research report on Friday, April 24th. DA Davidson restated a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday, April 27th. Finally, Weiss Ratings cut Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $94.25.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.