Proficio Capital Partners LLC Takes $3.89 Million Position in Graco Inc. (NYSE:GGG)

Proficio Capital Partners LLC purchased a new position in Graco Inc. (NYSE:GGG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 46,115 shares of the industrial products company’s stock, valued at approximately $3,887,000.

Several other large investors also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC bought a new stake in shares of Graco in the 4th quarter valued at approximately $25,000. Brooklyn Investment Group purchased a new position in Graco during the third quarter worth $30,000. National Pension Service purchased a new position in Graco during the fourth quarter worth $34,000. Whipplewood Advisors LLC bought a new position in Graco during the fourth quarter valued at $37,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Graco in the 4th quarter worth about $61,000. 93.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on GGG. Royal Bank of Canada upped their price target on shares of Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. DA Davidson set a $85.00 target price on Graco in a research report on Friday, January 31st. Finally, BNP Paribas raised Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price target for the company in a research note on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $93.00.

Graco Price Performance

Graco stock opened at $84.33 on Tuesday. The stock has a market cap of $14.18 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. The firm has a 50-day moving average of $84.89 and a two-hundred day moving average of $85.52. Graco Inc. has a 1 year low of $77.49 and a 1 year high of $94.77.

Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. Research analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s dividend payout ratio (DPR) is currently 39.01%.

Graco Company Profile

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.