Jackson Square Partners LLC lowered its holdings in Graco Inc. (NYSE:GGG - Free Report) by 16.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 305,917 shares of the industrial products company's stock after selling 61,368 shares during the period. Graco makes up 2.8% of Jackson Square Partners LLC's holdings, making the stock its 10th biggest holding. Jackson Square Partners LLC owned approximately 0.18% of Graco worth $25,786,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. ICW Investment Advisors LLC acquired a new position in Graco during the fourth quarter worth approximately $209,000. United Services Automobile Association raised its stake in shares of Graco by 4.3% during the 4th quarter. United Services Automobile Association now owns 11,044 shares of the industrial products company's stock worth $931,000 after buying an additional 455 shares during the last quarter. Vanguard Group Inc. grew its holdings in Graco by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company's stock valued at $1,444,864,000 after buying an additional 183,335 shares during the last quarter. LPL Financial LLC grew its stake in Graco by 2.7% in the 4th quarter. LPL Financial LLC now owns 68,194 shares of the industrial products company's stock worth $5,748,000 after acquiring an additional 1,804 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in Graco in the 4th quarter worth about $4,880,000. Hedge funds and other institutional investors own 93.88% of the company's stock.
Graco Price Performance
Shares of GGG stock traded down $1.09 during trading hours on Friday, reaching $83.35. The stock had a trading volume of 583,930 shares, compared to its average volume of 779,448. The firm has a 50-day simple moving average of $85.03 and a 200-day simple moving average of $85.62. The firm has a market capitalization of $14.01 billion, a PE ratio of 29.56, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. Graco Inc. has a twelve month low of $77.49 and a twelve month high of $93.25.
Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share 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%. On average, equities analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current year.
Graco Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Monday, April 14th. Graco's payout ratio is 39.01%.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. Royal Bank of Canada increased their target price on Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. BNP Paribas upgraded Graco from a "neutral" rating to an "outperform" rating and set a $105.00 target price for the company in a research note on Thursday, December 19th. Finally, DA Davidson set a $85.00 price target on shares of Graco in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $93.00.
Read Our Latest Analysis on GGG
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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