Centric Wealth Management Sells 200 Shares of Graco Inc. (NYSE:GGG)

Centric Wealth Management decreased its position in shares of Graco Inc. (NYSE:GGG) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,800 shares of the industrial products company’s stock after selling 200 shares during the quarter. Centric Wealth Management’s holdings in Graco were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Meeder Advisory Services Inc. boosted its stake in shares of Graco by 5.5% in the third quarter. Meeder Advisory Services Inc. now owns 3,004 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 157 shares during the period. Lindbrook Capital LLC boosted its stake in Graco by 24.3% in the 4th quarter. Lindbrook Capital LLC now owns 931 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 182 shares during the period. Valley Wealth Managers Inc. grew its holdings in Graco by 5.9% during the 3rd quarter. Valley Wealth Managers Inc. now owns 3,427 shares of the industrial products company’s stock valued at $250,000 after buying an additional 192 shares in the last quarter. D.B. Root & Company LLC raised its position in shares of Graco by 1.7% during the fourth quarter. D.B. Root & Company LLC now owns 12,421 shares of the industrial products company’s stock valued at $1,078,000 after buying an additional 205 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Graco by 0.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 30,968 shares of the industrial products company’s stock worth $2,257,000 after buying an additional 215 shares in the last quarter. Institutional investors own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GGG. Royal Bank of Canada increased their price objective on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Robert W. Baird cut their price target on Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Jefferies Financial Group upped 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. William Blair reissued a “market perform” rating on shares of Graco in a report on Friday, April 26th. Finally, StockNews.com downgraded shares of Graco from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Graco has a consensus rating of “Hold” and an average target price of $88.25.

Insiders Place Their Bets

In other news, VP Angela F. Wordell sold 3,588 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total transaction of $335,836.80. Following the transaction, the vice president now owns 12,725 shares of the company’s stock, valued at approximately $1,191,060. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Timothy R. White sold 2,895 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $87.49, for a total value of $253,283.55. Following the completion of the transaction, the insider now directly owns 50,782 shares of the company’s stock, valued at approximately $4,442,917.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Angela F. Wordell sold 3,588 shares of Graco stock in a transaction dated 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 transaction, the vice president now owns 12,725 shares in the company, valued at approximately $1,191,060. The disclosure for this sale can be found here. Insiders have sold 48,378 shares of company stock worth $4,376,528 in the last ninety days. 2.63% of the stock is owned by company insiders.

Graco Stock Performance

NYSE GGG traded up $0.66 on Tuesday, hitting $83.51. 1,157,407 shares of the stock were exchanged, compared to its average volume of 688,463. Graco Inc. has a 52-week low of $69.78 and a 52-week high of $94.77. The firm has a market capitalization of $14.12 billion, a P/E ratio of 28.56, a P/E/G ratio of 2.68 and a beta of 0.84. The stock has a fifty day moving average price of $90.10 and a two-hundred day moving average price of $85.37.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.09). The firm had revenue of $492.19 million for the quarter, compared to the consensus estimate of $536.19 million. Graco had a net margin of 23.15% and a return on equity of 23.01%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. Sell-side analysts expect that Graco Inc. will post 3.07 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th were paid a $0.255 dividend. The ex-dividend date was Friday, April 12th. This represents a $1.02 dividend on an annualized basis and a yield of 1.22%. Graco’s dividend payout ratio is currently 35.17%.

About Graco

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.