Graco Inc. $GGG Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its holdings in shares of Graco Inc. (NYSE:GGG) by 299.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 342,247 shares of the industrial products company’s stock after buying an additional 256,593 shares during the period. Nordea Investment Management AB’s holdings in Graco were worth $28,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in Graco during the third quarter worth $29,000. CX Institutional lifted its holdings in Graco by 316.7% during the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 361 shares in the last quarter. Assetmark Inc. grew its position in shares of Graco by 42.6% in the third 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 period. Geneos Wealth Management Inc. raised its position 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 last quarter. Finally, TD Private Client Wealth LLC lifted its stake in Graco by 116.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 514 shares of the industrial products company’s stock valued at $44,000 after buying an additional 277 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Trading Up 0.4%

GGG stock opened at $85.49 on Wednesday. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 2.67 and a beta of 1.07. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $95.69. The firm has a 50-day moving average of $89.72 and a two-hundred day moving average of $85.34.

Graco (NYSE:GGG) last issued its 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. The business had revenue of $593.16 million for the quarter, compared to analysts’ expectations of $591.99 million. Graco had a return on equity of 19.49% and a net margin of 23.33%.The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. As a group, equities analysts forecast 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. Shareholders 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 yield of 1.4%. Graco’s payout ratio is 38.19%.

Graco declared that its board has authorized a stock repurchase plan on Friday, December 5th that permits the company to repurchase 15,000,000 outstanding shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GGG shares. Robert W. Baird set a $96.00 price objective on Graco in a research note on Wednesday, January 28th. Royal Bank Of Canada raised their target price on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. KeyCorp reaffirmed a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. DA Davidson reiterated a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, February 2nd. Finally, Weiss Ratings raised Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Graco presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.50.

Insider Buying and Selling

In other news, EVP Kathryn L. Schoenrock sold 2,223 shares of Graco 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 transaction, the executive vice president owned 7,846 shares in the company, valued at $690,918.76. The trade was a 22.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Timothy R. White sold 1,469 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total transaction of $133,238.30. Following the transaction, the insider directly owned 51,430 shares in the company, valued at approximately $4,664,701. The trade was a 2.78% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 19,394 shares of company stock worth $1,739,326. 2.18% of the stock is currently owned by corporate insiders.

About Graco

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.