Envestnet Asset Management Inc. Raises Stock Position in Graco Inc. (NYSE:GGG)

Envestnet Asset Management Inc. grew its position in Graco Inc. (NYSE:GGG - Free Report) by 11.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 247,741 shares of the industrial products company's stock after buying an additional 26,124 shares during the quarter. Envestnet Asset Management Inc. owned 0.15% of Graco worth $20,882,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in Graco during the 4th quarter worth about $25,000. TD Private Client Wealth LLC lifted its position in shares of Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after purchasing an additional 190 shares during the period. National Pension Service bought a new position in shares of Graco during the fourth quarter valued at approximately $34,000. Whipplewood Advisors LLC purchased a new position in Graco during the fourth quarter valued at approximately $37,000. Finally, Brooklyn Investment Group raised its stake in Graco by 39.1% in the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company's stock worth $41,000 after buying an additional 136 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

Graco Stock Up 0.2 %

Shares of GGG traded up $0.17 during mid-day trading on Friday, hitting $78.59. 658,830 shares of the company traded hands, compared to its average volume of 812,239. The business has a 50 day moving average of $83.03 and a 200 day moving average of $84.89. The company has a market capitalization of $13.21 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. Graco Inc. has a 1-year low of $72.06 and a 1-year high of $92.86.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. As a group, research analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be given a dividend of $0.275 per share. The ex-dividend date is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.40%. Graco's dividend payout ratio is currently 39.01%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GGG shares. DA Davidson set a $85.00 price target on Graco in a research report on Friday, January 31st. Royal Bank of Canada raised their price target on shares of Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $93.00.

Graco 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.