NewEdge Advisors LLC Buys 461 Shares of Graco Inc. (NYSE:GGG)

NewEdge Advisors LLC increased its stake in shares of Graco Inc. (NYSE:GGG) by 13.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,771 shares of the industrial products company’s stock after buying an additional 461 shares during the quarter. NewEdge Advisors LLC’s holdings in Graco were worth $318,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Golden State Wealth Management LLC bought a new position in shares of Graco during the fourth quarter valued at $25,000. TD Private Client Wealth LLC increased its position in shares of 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 in the last quarter. National Pension Service bought a new position in Graco during the 4th quarter valued at about $34,000. Whipplewood Advisors LLC acquired a new position in Graco in the fourth quarter valued at about $37,000. Finally, Brooklyn Investment Group grew its stake in Graco by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock worth $41,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. DA Davidson set a $85.00 target price on shares of Graco in a research note on Friday, January 31st. Royal Bank of Canada lifted their price objective on Graco from $93.00 to $97.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Graco has a consensus rating of “Hold” and an average target price of $93.00.

Graco Price Performance

GGG opened at $81.70 on Thursday. The stock has a market capitalization of $13.65 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. The company’s 50 day simple moving average is $82.03 and its 200-day simple moving average is $84.59. Graco Inc. has a one year low of $72.06 and a one year high of $92.86.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $528.28 million for the quarter, compared to analyst estimates of $526.98 million. Graco had a return on equity of 19.38% and a net margin of 23.00%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. As a group, analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be given a $0.275 dividend. The ex-dividend date is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a yield of 1.35%. Graco’s payout ratio is 38.87%.

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.