Nuance Investments LLC Sells 34,773 Shares of Graco Inc. $GGG

Nuance Investments LLC cut its stake in shares of Graco Inc. (NYSE:GGG) by 52.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,213 shares of the industrial products company’s stock after selling 34,773 shares during the quarter. Nuance Investments LLC’s holdings in Graco were worth $2,559,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. AE Wealth Management LLC grew its stake in shares of Graco by 32.7% during the fourth quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock valued at $32,652,000 after purchasing an additional 98,141 shares during the last quarter. Comerica Bank grew its stake in shares of Graco by 54.1% during the fourth quarter. Comerica Bank now owns 172,328 shares of the industrial products company’s stock valued at $14,126,000 after purchasing an additional 60,486 shares during the last quarter. Raiffeisen Bank International AG grew its stake in shares of Graco by 191.8% during the third quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company’s stock valued at $744,000 after purchasing an additional 5,790 shares during the last quarter. Swiss Life Asset Management Ltd grew its stake in shares of Graco by 40.5% during the third quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock valued at $3,869,000 after purchasing an additional 13,130 shares during the last quarter. Finally, CWA Asset Management Group LLC bought a new stake in shares of Graco during the fourth quarter valued at approximately $3,527,000. 93.88% of the stock is owned by institutional investors.

Graco Stock Performance

Shares of GGG stock opened at $74.28 on Friday. Graco Inc. has a 52-week low of $73.48 and a 52-week high of $95.69. The stock has a market cap of $12.33 billion, a PE ratio of 24.20, a PEG ratio of 2.40 and a beta of 0.93. The firm’s 50 day moving average price is $80.56 and its two-hundred day moving average price is $84.47.

Graco (NYSE:GGG) last announced 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 net margin of 22.96% and a return on equity of 18.66%. The business had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. During the same period in the previous year, the business posted $0.70 earnings per share. Graco’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts predict that Graco Inc. will post 3.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GGG has been the topic of several research analyst reports. DA Davidson reissued a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, April 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Robert W. Baird reduced their price objective on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Finally, Weiss Ratings cut shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $94.25.

Insiders Place Their Bets

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

Graco Company 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.