William Blair Investment Management LLC Has $6.71 Million Stake in Graco Inc. $GGG

William Blair Investment Management LLC reduced its holdings in Graco Inc. (NYSE:GGG) by 35.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 78,940 shares of the industrial products company’s stock after selling 43,042 shares during the quarter. William Blair Investment Management LLC’s holdings in Graco were worth $6,707,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new stake in Graco in the 3rd quarter valued at approximately $29,000. NewSquare Capital LLC increased its position in Graco by 320.7% during the second quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 263 shares during the period. CX Institutional increased its position in Graco by 316.7% during the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 361 shares during the period. Assetmark Inc. raised its stake in Graco by 42.6% during the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 139 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 452 shares during the period. Institutional investors own 93.88% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kathryn L. Schoenrock sold 2,223 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the completion of the sale, the executive vice president directly owned 7,846 shares of the company’s stock, valued at $690,918.76. This trade represents a 22.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Angela F. Wordell sold 2,832 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $93.22, for a total value of $263,999.04. Following the completion of the sale, the executive vice president owned 13,360 shares of the company’s stock, valued at approximately $1,245,419.20. This trade represents a 17.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,394 shares of company stock valued at $1,739,326 in the last 90 days. Insiders own 2.19% of the company’s stock.

Graco Stock Performance

Shares of NYSE GGG opened at $92.48 on Wednesday. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $95.69. The business has a fifty day moving average of $88.70 and a two-hundred day moving average of $85.19. The stock has a market cap of $15.29 billion, a PE ratio of 29.93, a PEG ratio of 2.98 and a beta of 1.07.

Graco (NYSE:GGG) last announced its earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. The business had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. Graco had a net margin of 23.33% and a return on equity of 19.49%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. Analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco declared that its Board of Directors has initiated a stock repurchase plan on Friday, December 5th that allows the company to repurchase 15,000,000 outstanding shares. This repurchase authorization allows the industrial products company to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, April 13th. Graco’s payout ratio is presently 38.19%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GGG shares. Robert W. Baird set a $96.00 price objective on shares of Graco in a report on Wednesday, January 28th. DA Davidson restated a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, February 2nd. KeyCorp reiterated a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Royal Bank Of Canada lifted their price objective on Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Finally, Jefferies Financial Group raised their target price on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Graco has an average rating of “Moderate Buy” and an average target price of $96.50.

Graco Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.