Graco Inc. (NYSE:GGG) Shares Purchased by Vest Financial LLC
Vest Financial LLC increased its stake in Graco Inc. (NYSE:GGG) by 33.8% in Q1, owning 38,475 shares valued at $3.21 million. Other institutional investors also raised their positions, with notable increases from Hennion & Walsh and GAMMA Investing. Insider David J. Thompson sold 3,588 shares, reducing his ownership by 11.53%. Graco's stock opened at $85.05, with a market cap of $14.21 billion and a P/E ratio of 30.16. The company reported Q1 earnings of $0.70 per share, exceeding estimates, with a revenue increase of 7.3% year-over-year.
Vest Financial LLC increased its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 33.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,475 shares of the industrial products company's stock after acquiring an additional 9,719 shares during the quarter. Vest Financial LLC's holdings in Graco were worth $3,213,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. grew its position in Graco by 36.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 16,239 shares of the industrial products company's stock worth $1,356,000 after purchasing an additional 4,300 shares during the last quarter. Merit Financial Group LLC purchased a new position in Graco during the 1st quarter worth $590,000. GAMMA Investing LLC grew its position in Graco by 9,453.1% during the 1st quarter. GAMMA Investing LLC now owns 400,180 shares of the industrial products company's stock worth $33,419,000 after purchasing an additional 395,991 shares during the last quarter. California State Teachers Retirement System grew its position in Graco by 4.0% during the 4th quarter. California State Teachers Retirement System now owns 285,706 shares of the industrial products company's stock worth $24,082,000 after purchasing an additional 10,887 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Graco by 53.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 95,253 shares of the industrial products company's stock worth $8,029,000 after purchasing an additional 33,015 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, insider David J. Thompson sold 3,588 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total transaction of $309,393.24. Following the transaction, the insider now directly owns 27,520 shares in the company, valued at $2,373,049.60. The trade was a 11.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.19% of the company's stock.
Graco Stock Performance
Shares of Graco stock opened at $85.05 on Friday. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86. The company has a market capitalization of $14.21 billion, a P/E ratio of 30.16, a PEG ratio of 2.85 and a beta of 1.07. The company's fifty day moving average is $81.85 and its two-hundred day moving average is $84.36.
Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Graco had a net margin of 23.00% and a return on equity of 19.38%. The company had revenue of $528.28 million for the quarter, compared to the consensus estimate of $526.98 million. During the same period last year, the firm posted $0.65 EPS. Graco's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.
About Graco
(Free Report)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.
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