Raymond James Financial Inc. purchased a new position in shares of Graco Inc. (NYSE:GGG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 374,340 shares of the industrial products company's stock, valued at approximately $31,553,000. Raymond James Financial Inc. owned approximately 0.22% of Graco at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Maren Capital LLC increased its stake in Graco by 8.9% during the fourth quarter. Maren Capital LLC now owns 594,713 shares of the industrial products company's stock valued at $50,128,000 after purchasing an additional 48,444 shares during the last quarter. Invesco Ltd. raised its holdings in Graco by 1.7% during the fourth quarter. Invesco Ltd. now owns 1,800,167 shares of the industrial products company's stock valued at $151,736,000 after buying an additional 29,224 shares in the last quarter. Cerity Partners LLC grew its holdings in Graco by 32.3% in the 4th quarter. Cerity Partners LLC now owns 17,702 shares of the industrial products company's stock valued at $1,524,000 after buying an additional 4,322 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Graco by 34.0% in the 4th quarter. Russell Investments Group Ltd. now owns 975,960 shares of the industrial products company's stock valued at $82,207,000 after buying an additional 247,589 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Graco by 11.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 247,741 shares of the industrial products company's stock worth $20,882,000 after purchasing an additional 26,124 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company's stock.
Graco Stock Up 0.2 %
NYSE:GGG traded up $0.17 during trading hours on Friday, reaching $78.59. 658,830 shares of the company's stock were exchanged, compared to its average volume of 812,239. The business's 50-day simple moving average is $83.03 and its two-hundred day simple moving average is $84.89. The company has a market capitalization of $13.21 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86.
Graco (NYSE:GGG - Get Free Report) last issued its earnings results on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. As a group, sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.
Graco Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.40%. Graco's dividend payout ratio is presently 39.01%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. DA Davidson set a $85.00 price target on shares of Graco in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Graco currently has a consensus rating of "Hold" and an average target price of $93.00.
Read Our Latest Analysis on Graco
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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