Beacon Pointe Advisors LLC Sells 1,056 Shares of Graco Inc. (NYSE:GGG)

Beacon Pointe Advisors LLC lessened its holdings in Graco Inc. (NYSE:GGG) by 7.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,589 shares of the industrial products company’s stock after selling 1,056 shares during the period. Beacon Pointe Advisors LLC’s holdings in Graco were worth $1,092,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GGG. Tobam increased its holdings in Graco by 2,330.8% in the 4th quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 303 shares in the last quarter. Sound Income Strategies LLC purchased a new stake in Graco in the 4th quarter worth approximately $28,000. Fortitude Family Office LLC purchased a new stake in Graco in the 4th quarter worth approximately $29,000. Allspring Global Investments Holdings LLC increased its holdings in Graco by 3,063.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 601 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 582 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Graco by 370.7% in the 3rd quarter. Larson Financial Group LLC now owns 626 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 493 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Insider Buying and Selling at Graco

In other Graco news, VP Angela F. Wordell sold 3,588 shares of Graco stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total value of $335,836.80. Following the transaction, the vice president now owns 12,725 shares in the company, valued at $1,191,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Christian E. Rothe sold 15,000 shares of Graco stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $90.04, for a total transaction of $1,350,600.00. Following the completion of the sale, the insider now owns 25,583 shares of the company’s stock, valued at $2,303,493.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Angela F. Wordell sold 3,588 shares of Graco stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total value of $335,836.80. Following the sale, the vice president now directly owns 12,725 shares of the company’s stock, valued at approximately $1,191,060. The disclosure for this sale can be found here. Insiders have sold 44,088 shares of company stock worth $4,000,485 over the last quarter. Insiders own 2.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada increased their target price on shares of Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. StockNews.com lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, April 26th. William Blair reaffirmed a “market perform” rating on shares of Graco in a report on Friday, April 26th. Finally, Robert W. Baird cut their price objective on shares of Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday, April 26th. 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 has a consensus rating of “Hold” and a consensus price target of $88.25.

Graco Stock Down 0.5 %

Shares of GGG opened at $83.15 on Wednesday. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77. The company has a market cap of $14.06 billion, a PE ratio of 28.67, a P/E/G ratio of 2.74 and a beta of 0.84. The business has a fifty day moving average of $88.26 and a 200 day moving average of $86.15.

Graco (NYSE:GGG) last released its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.09). The business had revenue of $492.19 million for the quarter, compared to the consensus estimate of $536.19 million. Graco had a return on equity of 23.01% and a net margin of 23.15%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. As a group, research analysts anticipate that Graco Inc. will post 3.05 earnings per share for the current fiscal year.

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.