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RBC Capital maintains Graco (GGG) outperformance recommendation

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Fintel reports that on April 28, 2023, RBC Capital maintained coverage of Graco (NYSE:GGG) with a Surpass recommendation.

Analyst price forecast suggests 1.16% drop

As of April 24, 2023, the one-year average price target for Graco was 78.37. The forecast ranges from a low of 70.70 to a high of $86.10. The average price target represents a decline of 1.16% from its last published closing price of 79.29.

Check out our ranking of companies with the biggest upward price target.

Graco’s projected annual revenue is 2,219 million, an increase of 1.84%. Projected annual non-GAAP EPS is 2.78.

Graco declares a dividend of $0.24

On February 17, 2023, the company declared a regular quarterly dividend of $0.24 per share ($0.94 annualized). Shareholders of record on April 17, 2023 will receive payment on May 3, 2023. Previously, the company paid $0.24 per share.

At the current share price of $79.29/share, the dividend yield of the stock is 1.19%.

Looking back five years and taking a sample each week, the average dividend yield was 1.24%, the low 0.95% and the high 1.77%. The standard deviation of returns is 0.17 (n=236).

The current dividend yield is 0.34 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.32. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

The company’s 3-year dividend growth rate is 0.34%, demonstrating that it has increased its dividend over time.

What is fund sentiment?

There are 1047 funds or institutions reporting positions at Graco. This is an increase of 80 owner(s) or 8.27% in the last quarter. Average portfolio weight of all funds dedicated to GGG is 0.30%, an increase of 0.62%. The total number of shares held by institutions has increased over the past three months by 1.76% to 172,588,000 shares. GGG’s put/call ratio is 0.67, indicating a bullish outlook.

What are the other shareholders doing?

GGG / Graco Inc. shares held by institutions

Fiera Capital holds 9,156,000 shares representing 5.45% ownership of the company. In its previous filing, the company stated that it holds 9,307,000 shares, representing a decrease 1.66%. The company decreases its GGG portfolio allocation of 44.16% in the last quarter.

Kayne Anderson Rudnick Investment Management owns 6,543,000 shares representing 3.89% ownership of the company. In its previous filing, the company said it held 7,244,000 shares, representing a decrease of 10.71%. The company decreases its portfolio allocation in GGG by 4.71% in the last quarter.

IJH – iShares Core S&P Mid-Cap ETF holds 5,204,000 shares representing 3.10% ownership of the company. In its previous filing, the company said it held 4,942,000 shares, representing a raise of 5.04%. The company increase its portfolio allocation in GGG by 3.13% in the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 5,123,000 shares representing 3.05% ownership of the company. In its previous filing, the company stated that it holds 5,041,000 shares, representing a raise of 1.59%. The company increase its portfolio allocation in GGG by 5.28% over the last quarter.

Alecta Pensionsforsakring, Omsesidigt holds 4,400,000 shares representing 2.62% ownership of the company. No change in the last quarter.

General information about Graco
(This description is provided by the company.)

Graco Inc. provides technology and expertise for fluid management in industrial and commercial applications. It designs, manufactures and markets systems and equipment for moving, measuring, controlling, dispensing and spraying fluids and powders. A recognized leader in its specialties, Minneapolis-based Graco serves customers worldwide in the manufacturing, processing, construction and maintenance industries.

View all Graco regulatory filings.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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