Sarasin & Partners LLP Has $1.79 Million Stake in Graco Inc. $GGG

Sarasin & Partners LLP reduced its stake in shares of Graco Inc. (NYSE:GGG) by 92.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,789 shares of the industrial products company’s stock after selling 267,632 shares during the period. Sarasin & Partners LLP’s holdings in Graco were worth $1,786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GGG. Root Financial Partners LLC acquired a new stake in shares of Graco in the third quarter valued at about $29,000. Assetmark Inc. lifted its stake in shares of Graco by 42.6% in the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 139 shares during the period. CX Institutional boosted its holdings in Graco by 316.7% in the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 361 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 452 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its position in Graco by 116.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 514 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 277 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Graco

In related news, insider Timothy R. White sold 1,469 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the transaction, the insider owned 51,430 shares of the company’s stock, valued at approximately $4,664,701. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Angela F. Wordell sold 2,832 shares of Graco stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $93.22, for a total value of $263,999.04. Following the transaction, the executive vice president owned 13,360 shares of the company’s stock, valued at $1,245,419.20. This trade represents a 17.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 19,394 shares of company stock worth $1,739,326. 2.19% of the stock is currently owned by insiders.

Graco Trading Down 0.4%

NYSE GGG opened at $83.96 on Friday. The company has a market cap of $13.92 billion, a P/E ratio of 27.17, a PEG ratio of 2.63 and a beta of 1.07. The company has a fifty day simple moving average of $89.74 and a 200 day simple moving average of $85.34. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $95.69.

Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. Graco had a net margin of 23.33% and a return on equity of 19.49%. The firm had revenue of $593.16 million for the quarter, compared to the consensus estimate of $591.99 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts predict that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

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

Graco announced that its Board of Directors has initiated a stock buyback program on Friday, December 5th that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.