Vanguard Group Inc. Boosts Position in Graco Inc. (NYSE:GGG)

Vanguard Group Inc. increased its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 1.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,141,579 shares of the industrial products company's stock after buying an additional 183,335 shares during the quarter. Vanguard Group Inc. owned about 10.15% of Graco worth $1,444,864,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of Graco during the fourth quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in Graco during the 3rd quarter worth $30,000. TD Private Client Wealth LLC grew its position in Graco by 118.0% during 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 last quarter. National Pension Service acquired a new position in Graco in the fourth quarter valued at $34,000. Finally, Whipplewood Advisors LLC purchased a new stake in shares of Graco in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 93.88% of the company's stock.

Graco Price Performance

Shares of GGG stock traded up $0.87 during trading hours on Tuesday, reaching $84.38. 784,990 shares of the company's stock were exchanged, compared to its average volume of 779,668. The company's 50 day moving average is $84.96 and its two-hundred day moving average is $85.66. The company has a market cap of $14.19 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. Graco Inc. has a 1 year low of $77.49 and a 1 year high of $93.01.

Remove Ads

Graco (NYSE:GGG - Get Free Report) last released its quarterly earnings data 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 return on equity of 19.38% and a net margin of 23.00%. As a group, analysts predict that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently announced 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 of this dividend is Monday, April 14th. This represents a $1.10 annualized dividend and a yield of 1.30%. Graco's payout ratio is currently 39.01%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. BNP Paribas upgraded 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. Royal Bank of Canada boosted their target price on Graco from $93.00 to $97.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Finally, DA Davidson set a $85.00 price target on Graco in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $93.00.

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.