Fri Sep 20 08:40:49 UTC 2024: ## Graco Inc. (GGG) Sees Mixed Investor Activity in Q2 2024

**New York, NY (MarketBeat News) -** Graco Inc. (NYSE:GGG) saw a mixed bag of investor activity in the second quarter of 2024, with some institutions increasing their holdings while others significantly reduced their positions.

Quest Partners LLC slashed its holdings in Graco by a whopping 95.2%, selling off 7,945 shares and retaining only 401. This move, however, was countered by several other institutional investors who increased their stake in the industrial products company.

Ballentine Partners LLC raised its position by 4.6%, Narwhal Capital Management boosted its stake by 38.2%, Private Advisor Group LLC increased its holding by 27.7%, Victory Capital Management Inc. grew its position by 1.3%, and National Bank of Canada FI upped its stake by 2.8%.

Despite these contrasting movements, institutional investors remain heavily invested in Graco, with a combined ownership of 93.88%.

Analyst sentiment towards Graco has been mixed, with some firms lowering their target prices and ratings while others maintain positive outlooks. StockNews.com downgraded Graco from “buy” to “hold,” while Royal Bank of Canada lowered its target price from $99.00 to $96.00 but kept an “outperform” rating. DA Davidson and Robert W. Baird also reduced their price objectives on the stock.

Graco reported solid earnings for the second quarter, exceeding analysts’ expectations with $0.77 earnings per share (EPS) compared to the estimated $0.76. However, revenue fell short of forecasts at $553.20 million. The company also declared a quarterly dividend of $0.255 per share, payable on November 6th.

Graco, a global leader in fluid handling systems, designs and manufactures equipment used in various industries, including construction, manufacturing, and automotive. The company’s performance in the coming quarters will be closely watched by investors and analysts alike.

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