Ensign Peak Advisors Inc Has $54.08 Million Stake in Graco Inc. (NYSE:GGG)

Ensign Peak Advisors Inc reduced its holdings in Graco Inc. (NYSE:GGG - Free Report) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 641,536 shares of the industrial products company's stock after selling 56,305 shares during the period. Ensign Peak Advisors Inc owned approximately 0.38% of Graco worth $54,075,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Deutsche Bank AG lifted its stake in shares of Graco by 8.8% in the 4th quarter. Deutsche Bank AG now owns 393,396 shares of the industrial products company's stock valued at $33,159,000 after purchasing an additional 31,860 shares during the period. EP Wealth Advisors LLC lifted its stake in Graco by 30.6% in the fourth quarter. EP Wealth Advisors LLC now owns 5,630 shares of the industrial products company's stock valued at $475,000 after buying an additional 1,320 shares during the period. Bridgefront Capital LLC bought a new position in Graco during the fourth quarter worth about $321,000. BLI Banque de Luxembourg Investments bought a new position in Graco during the fourth quarter worth about $14,327,000. Finally, Ameriprise Financial Inc. grew its position in shares of Graco by 1.5% during the 4th quarter. Ameriprise Financial Inc. now owns 673,240 shares of the industrial products company's stock worth $56,740,000 after buying an additional 10,041 shares during the period. 93.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson set a $85.00 price objective on Graco in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $93.00.

Graco Price Performance

GGG opened at $83.28 on Friday. The company has a market capitalization of $13.92 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 2.85 and a beta of 1.09. The business's 50-day moving average price is $81.58 and its two-hundred day moving average price is $84.43. Graco Inc. has a 1 year low of $72.06 and a 1 year high of $92.86.

Graco (NYSE:GGG - Get Free Report) last released its earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $528.28 million for the quarter, compared to analysts' expectations of $526.98 million. Graco had a return on equity of 19.38% and a net margin of 23.00%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. Sell-side analysts anticipate that Graco Inc. will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Monday, April 14th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, April 14th. Graco's dividend payout ratio (DPR) is currently 38.87%.

Graco Company 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.

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