Focus Financial Network Inc. Reduces Stock Position in Graco Inc. (NYSE:GGG)

Focus Financial Network Inc. cut its stake in Graco Inc. (NYSE:GGG) by 7.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,731 shares of the industrial products company’s stock after selling 2,004 shares during the period. Focus Financial Network Inc.’s holdings in Graco were worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC lifted its holdings in Graco by 5.5% in the second quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 120 shares during the last quarter. Ballentine Partners LLC lifted its holdings in Graco by 3.1% in the third quarter. Ballentine Partners LLC now owns 4,222 shares of the industrial products company’s stock valued at $369,000 after acquiring an additional 128 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Graco by 7.1% in the second quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 134 shares during the last quarter. iA Global Asset Management Inc. lifted 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 acquiring an additional 136 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Graco by 6.3% in the second quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 141 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Graco Stock Up 1.3 %

NYSE:GGG opened at $82.54 on Friday. The stock’s fifty day moving average is $83.97 and its two-hundred day moving average is $82.40. Graco Inc. has a 52 week low of $74.79 and a 52 week high of $94.77. The stock has a market capitalization of $13.94 billion, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 2.79 and a beta of 0.81.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a return on equity of 21.24% and a net margin of 22.87%. The company had revenue of $519.21 million for the quarter, compared to analysts’ expectations of $538.19 million. During the same period in the prior year, the company posted $0.76 EPS. The firm’s revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Graco Inc. will post 2.92 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s dividend payout ratio is currently 36.04%.

Analysts Set New Price Targets

A number of research analysts recently commented on GGG shares. DA Davidson reiterated a “neutral” rating and issued a $79.00 price objective on shares of Graco in a report on Friday, September 27th. Royal Bank of Canada decreased their price target on Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Robert W. Baird decreased their price target on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Graco currently has a consensus rating of “Hold” and a consensus price target of $89.25.

Graco 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.