AdvisorShares Investments LLC Makes New $470,000 Investment in Graco Inc. $GGG

AdvisorShares Investments LLC bought a new position in Graco Inc. (NYSE:GGG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,530 shares of the industrial products company’s stock, valued at approximately $470,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Graco during the 2nd quarter valued at about $170,661,000. AQR Capital Management LLC lifted its stake in shares of Graco by 116.8% in the second quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock worth $63,201,000 after buying an additional 396,125 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Graco by 55.7% during the second quarter. Allianz Asset Management GmbH now owns 693,111 shares of the industrial products company’s stock valued at $59,587,000 after buying an additional 248,056 shares during the last quarter. Sei Investments Co. increased its position in shares of Graco by 94.6% during the second quarter. Sei Investments Co. now owns 508,176 shares of the industrial products company’s stock valued at $43,688,000 after acquiring an additional 246,984 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Graco by 3,165.4% in the 2nd quarter. Jane Street Group LLC now owns 249,703 shares of the industrial products company’s stock worth $21,467,000 after acquiring an additional 242,056 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GGG has been the topic of several recent analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Graco in a research note on Tuesday, January 27th. Royal Bank Of Canada increased their price objective on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Jefferies Financial Group lifted their price objective on Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. DA Davidson restated a “neutral” rating and set a $85.00 target price on shares of Graco in a research note on Monday, February 2nd. Finally, Robert W. Baird set a $96.00 price target on shares of Graco in a report on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $96.50.

Insider Transactions at Graco

In other news, insider Timothy R. White sold 1,469 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total transaction of $133,238.30. Following the completion of the sale, the insider owned 51,430 shares of the company’s stock, valued at $4,664,701. The trade was a 2.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J Kevin Gilligan sold 12,870 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $89.07, for a total value of $1,146,330.90. The SEC filing for this sale provides additional information. Insiders have sold 16,562 shares of company stock worth $1,475,327 in the last 90 days. 2.19% of the stock is currently owned by insiders.

Graco Stock Performance

Graco stock opened at $92.90 on Monday. Graco Inc. has a one year low of $72.06 and a one year high of $93.77. The stock has a fifty day moving average of $85.10 and a 200 day moving average of $84.07. The stock has a market cap of $15.40 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.91 and a beta of 1.08.

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

Graco Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Monday, January 19th were given a $0.295 dividend. The ex-dividend date was Friday, January 16th. This is a boost from Graco’s previous quarterly dividend of $0.28. This represents a $1.18 annualized dividend and a yield of 1.3%. Graco’s payout ratio is 38.19%.

Graco declared that its Board of Directors has initiated a share buyback plan on Friday, December 5th that authorizes the company to buyback 15,000,000 shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication 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.