Graco Inc. (NYSE:GGG) Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its stake in shares of Graco Inc. (NYSE:GGG) by 23.6% during the fourth quarter, Holdings Channel reports. The fund owned 16,304 shares of the industrial products company’s stock after purchasing an additional 3,116 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Graco were worth $1,415,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in GGG. Tobam boosted its stake in shares of Graco by 2,330.8% during the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 303 shares during the last quarter. Sound Income Strategies LLC purchased a new position in Graco during the fourth quarter worth about $28,000. Fortitude Family Office LLC purchased a new position in Graco during the fourth quarter worth about $29,000. Allspring Global Investments Holdings LLC lifted its position in Graco by 3,063.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after buying an additional 582 shares during the period. Finally, Larson Financial Group LLC lifted its position in Graco by 370.7% during the third quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company’s stock worth $46,000 after buying an additional 493 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Insider Buying and Selling at Graco

In other Graco news, insider Anthony J. Gargano sold 1,395 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $88.00, for a total transaction of $122,760.00. Following the completion of the sale, the insider now owns 5,697 shares in the company, valued at approximately $501,336. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Anthony J. Gargano sold 1,395 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $88.00, for a total value of $122,760.00. Following the completion of the sale, the insider now directly owns 5,697 shares in the company, valued at approximately $501,336. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Angela F. Wordell sold 3,588 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total value of $335,836.80. Following the completion of the sale, the vice president now owns 12,725 shares of the company’s stock, valued at $1,191,060. The disclosure for this sale can be found here. Insiders sold a total of 48,378 shares of company stock worth $4,376,528 in the last 90 days. 2.63% of the stock is owned by corporate insiders.

Graco Stock Performance

Shares of NYSE:GGG opened at $80.32 on Thursday. The company has a market cap of $13.59 billion, a P/E ratio of 27.70, a PEG ratio of 2.68 and a beta of 0.81. Graco Inc. has a one year low of $69.78 and a one year high of $94.77. The business’s 50-day simple moving average is $90.75 and its 200 day simple moving average is $85.12.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Graco had a net margin of 23.15% and a return on equity of 23.01%. The business had revenue of $492.19 million for the quarter, compared to analyst estimates of $536.19 million. During the same quarter last year, the business earned $0.74 EPS. Graco’s revenue for the quarter was down 7.1% compared to the same quarter last year. Analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were paid a dividend of $0.255 per share. The ex-dividend date was Friday, April 12th. This represents a $1.02 dividend on an annualized basis and a yield of 1.27%. Graco’s dividend payout ratio (DPR) is presently 35.17%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Jefferies Financial Group raised their price objective on Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Robert W. Baird cut their price objective on Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Royal Bank of Canada raised their price objective on Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. William Blair restated a “market perform” rating on shares of Graco in a report on Friday, April 26th. Finally, StockNews.com downgraded Graco from a “buy” rating to a “hold” rating in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $88.25.

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.