Walter Public Investments Inc. Trims Holdings in Graco Inc. (NYSE:GGG)

Walter Public Investments Inc. lowered its holdings in Graco Inc. (NYSE:GGG) by 10.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 147,675 shares of the industrial products company’s stock after selling 17,286 shares during the quarter. Graco makes up about 2.1% of Walter Public Investments Inc.’s investment portfolio, making the stock its 22nd largest holding. Walter Public Investments Inc. owned approximately 0.09% of Graco worth $11,708,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Marshall Financial Group LLC boosted its stake in shares of Graco by 2.8% during the 2nd quarter. Marshall Financial Group LLC now owns 12,053 shares of the industrial products company’s stock valued at $956,000 after purchasing an additional 331 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Graco by 8.8% during the 2nd quarter. Raymond James & Associates now owns 354,159 shares of the industrial products company’s stock worth $28,078,000 after acquiring an additional 28,693 shares during the period. Gradient Investments LLC purchased a new position in shares of Graco in the 2nd quarter valued at approximately $27,000. Blue Trust Inc. boosted its position in shares of Graco by 220.9% during the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 475 shares in the last quarter. Finally, Outlook Wealth Advisors LLC purchased a new stake in Graco in the second quarter worth $286,000. 93.88% of the stock is currently owned by institutional investors.

Graco Price Performance

Graco stock opened at $83.09 on Monday. Graco Inc. has a one year low of $69.78 and a one year high of $94.77. The business’s fifty day moving average is $81.53 and its 200 day moving average is $84.13. The stock has a market capitalization of $14.04 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Graco had a net margin of 23.16% and a return on equity of 22.40%. The firm had revenue of $553.20 million for the quarter, compared to the consensus estimate of $562.27 million. During the same quarter last year, the firm posted $0.75 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Graco Inc. will post 2.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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