Natixis Advisors LLC Boosts Stake in Graco Inc. $GGG

Natixis Advisors LLC increased its holdings in shares of Graco Inc. (NYSE:GGG) by 6.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 292,949 shares of the industrial products company’s stock after acquiring an additional 18,712 shares during the period. Natixis Advisors LLC’s holdings in Graco were worth $24,889,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GGG. Goldman Sachs Group Inc. lifted its holdings in Graco by 15.6% in the first quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after acquiring an additional 44,573 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Graco by 982.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares during the period. Savant Capital LLC grew its stake in shares of Graco by 416.2% during the 2nd quarter. Savant Capital LLC now owns 12,528 shares of the industrial products company’s stock worth $1,077,000 after purchasing an additional 10,101 shares during the period. Aviva PLC increased its holdings in shares of Graco by 5.6% in the 2nd quarter. Aviva PLC now owns 124,185 shares of the industrial products company’s stock valued at $10,676,000 after purchasing an additional 6,579 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Graco by 1,056.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,243 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 2,049 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Insider Buying and Selling

In other Graco news, EVP Angela F. Wordell sold 2,832 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $93.22, for a total transaction of $263,999.04. Following the sale, the executive vice president directly owned 13,360 shares of the company’s stock, valued at $1,245,419.20. This trade represents a 17.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Kevin Gilligan sold 12,870 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total transaction of $1,146,330.90. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 19,394 shares of company stock worth $1,739,326. 2.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on GGG. Weiss Ratings raised shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Robert W. Baird set a $96.00 target price on shares of Graco in a report on Wednesday, January 28th. Royal Bank Of Canada lifted their price target on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Jefferies Financial Group boosted their price target on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th. Finally, DA Davidson restated a “neutral” rating and issued a $85.00 price target on shares of Graco in a report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.50.

Graco Stock Performance

GGG stock opened at $87.95 on Wednesday. The stock’s 50 day moving average price is $89.35 and its 200 day moving average price is $85.34. The firm has a market cap of $14.54 billion, a P/E ratio of 28.46, a PEG ratio of 2.78 and a beta of 1.07. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $95.69.

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

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be paid a dividend of $0.295 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.3%. Graco’s dividend payout ratio (DPR) is presently 38.19%.

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

Graco Company 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.