Envestnet Portfolio Solutions Inc. Has $375,000 Stock Position in Graco Inc. (NYSE:GGG)

Envestnet Portfolio Solutions Inc. trimmed its holdings in shares of Graco Inc. (NYSE:GGG) by 4.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,736 shares of the industrial products company’s stock after selling 214 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Graco were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC raised its position in Graco by 5.5% during 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 buying an additional 120 shares during the period. Harbor Capital Advisors Inc. grew its stake 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 purchasing an additional 134 shares in the last quarter. Park Avenue Securities LLC grew its stake in Graco by 1.9% in the first quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock valued at $700,000 after purchasing an additional 139 shares in the last quarter. GAMMA Investing LLC grew its stake 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 purchasing an additional 141 shares in the last quarter. Finally, Spire Wealth Management grew its stake in Graco by 0.3% in the first quarter. Spire Wealth Management now owns 66,975 shares of the industrial products company’s stock valued at $6,260,000 after purchasing an additional 176 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Graco Stock Performance

GGG opened at $81.83 on Thursday. The company has a market cap of $13.84 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.77 and a beta of 0.82. The stock has a 50-day moving average of $80.65 and a 200-day moving average of $84.95. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. The company had revenue of $553.20 million during the quarter, compared to the consensus estimate of $562.27 million. Graco had a return on equity of 22.40% and a net margin of 23.16%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. On average, research analysts predict that Graco Inc. will post 2.98 earnings per share for the current year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Monday, July 22nd were given a dividend of $0.255 per share. The ex-dividend date was Monday, July 22nd. This represents a $1.02 annualized dividend and a dividend yield of 1.25%. Graco’s dividend payout ratio is presently 35.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GGG. Royal Bank of Canada lowered their target price on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Robert W. Baird lowered their target price on Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. William Blair restated a “market perform” rating on shares of Graco in a research note on Friday, April 26th. StockNews.com downgraded Graco from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Finally, DA Davidson lowered their target price on Graco from $82.00 to $79.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company 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.