Burgundy Asset Management Ltd. Purchases 61,517 Shares of Graco Inc. $GGG

Key Points

• Burgundy Asset Management Ltd. increased its stake in Graco Inc. by 6.9%, now holding approximately 952,011 shares valued at about $79.5 million as of the latest SEC reporting period.
• Graco reported earnings per share of $0.75 for the last quarter, falling short of analysts' expectations of $0.78, with revenues of $571.81 million compared to the consensus estimate of $590.57 million.
• Graco declared a quarterly dividend of $0.275 per share, yielding an annualized amount of $1.10, which represents a payout ratio of 39.01%.

Burgundy Asset Management Ltd. increased its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 952,011 shares of the industrial products company's stock after buying an additional 61,517 shares during the period. Burgundy Asset Management Ltd. owned 0.57% of Graco worth $79,502,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of GGG. Townsquare Capital LLC lifted its holdings in shares of Graco by 32.7% during the 4th quarter. Townsquare Capital LLC now owns 4,532 shares of the industrial products company's stock worth $382,000 after acquiring an additional 1,118 shares during the period. Barclays PLC increased its position in Graco by 75.5% in the 4th quarter. Barclays PLC now owns 231,807 shares of the industrial products company's stock valued at $19,539,000 after acquiring an additional 99,729 shares in the last quarter. Mariner LLC boosted its stake in Graco by 10.3% during the 4th quarter. Mariner LLC now owns 71,415 shares of the industrial products company's stock worth $6,020,000 after acquiring an additional 6,691 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Graco by 13.9% during the 4th quarter. NewEdge Advisors LLC now owns 3,771 shares of the industrial products company's stock worth $318,000 after acquiring an additional 461 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Graco by 71.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 308,338 shares of the industrial products company's stock worth $25,982,000 after acquiring an additional 128,109 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

Graco Stock Performance

Shares of Graco stock traded up $2.6550 on Friday, reaching $87.3350. 239,992 shares of the company's stock were exchanged, compared to its average volume of 817,575. The company has a market capitalization of $14.47 billion, a P/E ratio of 30.99, a price-to-earnings-growth ratio of 2.88 and a beta of 1.04. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The firm's 50-day moving average is $85.64 and its two-hundred day moving average is $84.16.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.03). The business had revenue of $571.81 million for the quarter, compared to the consensus estimate of $590.57 million. Graco had a return on equity of 19.05% and a net margin of 22.26%.Graco's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 21st were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, July 21st. Graco's dividend payout ratio (DPR) is currently 39.01%.

Analyst Ratings Changes

Several equities analysts have commented on GGG shares. Wolfe Research started coverage on shares of Graco in a report on Wednesday, June 18th. They issued an "outperform" rating on the stock. Robert W. Baird boosted their target price on shares of Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.50.

Graco 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.