Graco Inc. (NYSE:GGG) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its stake in Graco Inc. (NYSE:GGG) by 39.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,975 shares of the industrial products company’s stock after buying an additional 18,059 shares during the period. Intech Investment Management LLC’s holdings in Graco were worth $5,392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Generali Asset Management SPA SGR purchased a new position in shares of Graco during the fourth quarter worth $2,721,000. Carlson Capital Management grew its position in shares of Graco by 0.8% in the fourth quarter. Carlson Capital Management now owns 26,699 shares of the industrial products company’s stock valued at $2,250,000 after purchasing an additional 200 shares during the period. William Blair Investment Management LLC grew its position in shares of Graco by 58.1% in the fourth quarter. William Blair Investment Management LLC now owns 397,303 shares of the industrial products company’s stock valued at $33,489,000 after purchasing an additional 146,042 shares during the period. Gitterman Wealth Management LLC acquired a new stake in shares of Graco in the fourth quarter valued at about $207,000. Finally, Envestnet Portfolio Solutions Inc. grew its position in shares of Graco by 8.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,239 shares of the industrial products company’s stock valued at $442,000 after purchasing an additional 411 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Down 1.1 %

NYSE GGG opened at $83.47 on Wednesday. Graco Inc. has a 52 week low of $77.49 and a 52 week high of $94.77. The stock has a market capitalization of $14.03 billion, a PE ratio of 29.60, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. The firm has a 50 day moving average of $84.93 and a two-hundred day moving average of $85.52.

Graco (NYSE:GGG) last posted its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 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%. On average, equities research analysts expect 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. This represents a $1.10 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Monday, April 14th. Graco’s payout ratio is 39.01%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GGG shares. Royal Bank of Canada boosted their price target on shares of Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. 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 note on Thursday, December 19th. Finally, DA Davidson set a $85.00 price target on shares of Graco in a research note 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’s stock. According to MarketBeat.com, the company 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.