Mn Services Vermogensbeheer B.V. Has $5.88 Million Stake in Graco Inc. (NYSE:GGG)

Mn Services Vermogensbeheer B.V. raised its position in Graco Inc. (NYSE:GGG) by 5.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 69,800 shares of the industrial products company’s stock after purchasing an additional 3,500 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Graco were worth $5,883,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GGG. Allspring Global Investments Holdings LLC lifted its position in shares of Graco by 48.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,106 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 361 shares during the period. First Trust Direct Indexing L.P. lifted its position in shares of Graco by 12.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,856 shares of the industrial products company’s stock worth $425,000 after purchasing an additional 549 shares during the period. Pinnacle Associates Ltd. acquired a new position in shares of Graco in the 3rd quarter worth approximately $262,000. Financial Advocates Investment Management lifted its position in shares of Graco by 8.1% in the 3rd quarter. Financial Advocates Investment Management now owns 4,551 shares of the industrial products company’s stock worth $398,000 after purchasing an additional 342 shares during the period. Finally, US Bancorp DE lifted its position in shares of Graco by 13.5% in the 3rd quarter. US Bancorp DE now owns 223,897 shares of the industrial products company’s stock worth $19,593,000 after purchasing an additional 26,671 shares during the period. Institutional investors and hedge funds own 93.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. DA Davidson set a $85.00 target price on shares of Graco in a research report on Friday, January 31st. BNP Paribas raised shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, December 19th. Finally, Royal Bank of Canada increased their target price on shares of Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Four equities 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, Graco has a consensus rating of “Hold” and an average price target of $93.00.

Graco Stock Up 1.2 %

Shares of NYSE GGG opened at $87.13 on Friday. The firm has a market cap of $14.77 billion, a PE ratio of 30.90, a P/E/G ratio of 2.85 and a beta of 0.84. Graco Inc. has a 12-month low of $77.49 and a 12-month high of $94.77. The company’s fifty day simple moving average is $84.73 and its 200 day simple moving average is $85.22.

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 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 analysts predict that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 annualized dividend and a yield of 1.26%. Graco’s payout ratio is 39.01%.

Insiders Place Their Bets

In other news, insider Caroline M. Chambers sold 8,280 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total value of $749,919.60. Following the completion of the sale, the insider now owns 57,612 shares in the company, valued at $5,217,918.84. This represents a 12.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.63% of the company’s stock.

Graco 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.