Mn Services Vermogensbeheer B.V. Buys 3,500 Shares of Graco Inc. (NYSE:GGG)

Mn Services Vermogensbeheer B.V. raised its position in Graco Inc. (NYSE:GGG - Free Report) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,800 shares of the industrial products company's stock after acquiring an additional 3,500 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Graco were worth $5,883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of GGG. Allspring Global Investments Holdings LLC increased its holdings in Graco by 48.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,106 shares of the industrial products company's stock valued at $97,000 after buying an additional 361 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in shares of Graco by 12.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,856 shares of the industrial products company's stock worth $425,000 after acquiring an additional 549 shares during the last quarter. Pinnacle Associates Ltd. bought a new stake in shares of Graco in the 3rd quarter worth about $262,000. Financial Advocates Investment Management increased its stake in Graco by 8.1% in the 3rd quarter. Financial Advocates Investment Management now owns 4,551 shares of the industrial products company's stock worth $398,000 after buying an additional 342 shares during the period. Finally, US Bancorp DE increased its position in Graco by 13.5% during the 3rd quarter. US Bancorp DE now owns 223,897 shares of the industrial products company's stock valued at $19,593,000 after purchasing an additional 26,671 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.

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Analysts Set New Price Targets

GGG has been the subject of a number of recent analyst reports. Royal Bank of Canada lifted their target price on shares of Graco from $93.00 to $97.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. DA Davidson set a $85.00 target price on shares of Graco in a report on Friday, January 31st. Finally, BNP Paribas raised shares of Graco from a "neutral" rating to an "outperform" rating and set a $105.00 price target on the stock in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Graco has an average rating of "Hold" and a consensus target price of $93.00.

Graco Trading Up 2.7 %

Shares of Graco stock traded up $2.28 during trading hours on Wednesday, reaching $85.62. 944,620 shares of the company's stock were exchanged, compared to its average volume of 815,070. The firm has a market capitalization of $14.51 billion, a price-to-earnings ratio of 30.36, a price-to-earnings-growth ratio of 2.85 and a beta of 0.84. The company has a fifty day moving average of $84.71 and a 200-day moving average of $85.30. Graco Inc. has a 52-week low of $77.49 and a 52-week high of $94.77.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 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%. On average, equities research analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, April 14th. Graco's payout ratio is presently 39.01%.

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.