Renaissance Technologies LLC Has $61.09 Million Stake in Graco Inc. $GGG

Renaissance Technologies LLC raised its position in shares of Graco Inc. (NYSE:GGG) by 87.7% during the first quarter, HoldingsChannel.com reports. The fund owned 721,700 shares of the industrial products company’s stock after buying an additional 337,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Graco were worth $61,092,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GGG. Norges Bank acquired a new position in shares of Graco in the 4th quarter valued at about $161,949,000. Bank of Montreal Can grew its stake in Graco by 1,636.9% during the fourth quarter. Bank of Montreal Can now owns 1,011,196 shares of the industrial products company’s stock worth $82,888,000 after purchasing an additional 952,977 shares during the period. Caisse de depot et placement du Quebec increased its holdings in Graco by 236.4% in the third quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock worth $108,711,000 after purchasing an additional 899,174 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Graco by 20,706.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock valued at $45,605,000 after buying an additional 553,688 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Graco by 80.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 954,347 shares of the industrial products company’s stock valued at $80,785,000 after buying an additional 426,001 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Stock Performance

Shares of Graco stock opened at $79.43 on Monday. The stock has a market capitalization of $12.86 billion, a PE ratio of 24.98, a price-to-earnings-growth ratio of 2.56 and a beta of 0.93. Graco Inc. has a 52 week low of $72.51 and a 52 week high of $95.69. The stock has a 50 day moving average price of $75.07 and a two-hundred day moving average price of $82.65.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. Graco had a return on equity of 19.54% and a net margin of 23.53%.The company had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. During the same period in the prior year, the firm earned $0.75 earnings per share. Graco’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts forecast that Graco Inc. will post 3.1 EPS for the current year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th will be paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, July 20th. Graco’s dividend payout ratio (DPR) is 37.11%.

Graco News Summary

Here are the key news stories impacting Graco this week:

• Positive Sentiment: Graco posted record second-quarter sales and operating earnings, while adjusted EPS of $0.91 beat expectations, helping fuel buying in the stock. Graco (GGG) On Record Q2 Earnings And The Case For More Upside
• Positive Sentiment: Management’s third-quarter sales guidance and reaffirmed full-year outlook signaled confidence in demand trends, backlog growth, and a stronger second half. Graco Inc. Signals Stronger Second Half Ahead
• Positive Sentiment: Royal Bank of Canada raised its price target on Graco to $96 from $92 and kept an outperform rating, reinforcing a bullish analyst view. Benzinga / The Fly analyst update
• Neutral Sentiment: William Blair maintained a Hold rating, saying improving orders and backlog are being offset by only modest near-term growth. Balanced Outlook for Graco
• Neutral Sentiment: Several articles highlighted that revenue came in below some estimates even as profits and margins improved, making the earnings reaction more dependent on outlook than on top-line growth alone. Graco Surpasses Q2 Earnings Estimates, Reaffirms 2026 View

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings downgraded shares of Graco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, July 21st. Royal Bank Of Canada boosted their target price on shares of Graco from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday. Robert W. Baird set a $94.00 target price on shares of Graco in a research note on Friday. DA Davidson reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Finally, Wolfe Research lowered shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $95.00.

About Graco

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.