Nisa Investment Advisors LLC Sells 18,064 Shares of Graco Inc. $GGG

Nisa Investment Advisors LLC reduced its holdings in shares of Graco Inc. (NYSE:GGG) by 22.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,138 shares of the industrial products company’s stock after selling 18,064 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Graco were worth $5,175,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its stake in shares of Graco by 15.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock worth $27,592,000 after purchasing an additional 44,573 shares during the period. Geneos Wealth Management Inc. increased its holdings in Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares during the last quarter. Prudential Financial Inc. increased its holdings in Graco by 122.0% during the second quarter. Prudential Financial Inc. now owns 33,236 shares of the industrial products company’s stock worth $2,959,000 after buying an additional 18,262 shares during the last quarter. Schroder Investment Management Group bought a new stake in Graco in the second quarter worth about $2,946,000. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Graco by 134.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 160,354 shares of the industrial products company’s stock valued at $13,786,000 after acquiring an additional 92,096 shares during the last quarter. Institutional investors own 93.88% of the company’s stock.

Graco Stock Down 1.2%

Shares of NYSE:GGG opened at $84.59 on Friday. The firm has a market capitalization of $14.02 billion, a PE ratio of 27.38, a P/E/G ratio of 2.68 and a beta of 1.09. The company has a 50-day moving average price of $89.37 and a two-hundred day moving average price of $85.31. Graco Inc. has a twelve month low of $72.06 and a twelve month high of $95.69.

Graco (NYSE:GGG) last posted its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $593.16 million for the quarter, compared to analyst estimates of $591.99 million. Graco had a net margin of 23.33% and a return on equity of 19.49%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. Analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

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

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be given a dividend of $0.295 per share. The ex-dividend date is Monday, April 13th. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. Graco’s dividend payout ratio is currently 38.19%.

Insider Buying and Selling

In related news, EVP Angela F. Wordell sold 2,832 shares of the business’s stock in a transaction on Friday, February 6th. The stock was 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 in the company, valued at approximately $1,245,419.20. The trade was a 17.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Kevin Gilligan sold 12,870 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total value of $1,146,330.90. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 19,394 shares of company stock worth $1,739,326. Insiders own 2.18% of the company’s stock.

Analysts Set New Price Targets

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

Graco 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.