Burgundy Asset Management Ltd. Acquires 14,238 Shares of Graco Inc. (NYSE:GGG)

Burgundy Asset Management Ltd. raised its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 890,494 shares of the industrial products company's stock after buying an additional 14,238 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.53% of Graco worth $75,060,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Golden State Wealth Management LLC acquired a new position in shares of Graco during the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC boosted its holdings in shares of Graco by 118.0% in the fourth quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company's stock worth $30,000 after buying an additional 190 shares during the period. National Pension Service acquired a new position in Graco during the fourth quarter valued at $34,000. Whipplewood Advisors LLC acquired a new position in shares of Graco during the 4th quarter valued at about $37,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Graco during the fourth quarter valued at approximately $61,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Graco Stock Down 1.0%

NYSE GGG traded down $0.84 during trading on Wednesday, hitting $84.10. The company's stock had a trading volume of 92,252 shares, compared to its average volume of 818,242. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The firm has a market cap of $14.06 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The firm has a 50 day moving average price of $81.77 and a 200 day moving average price of $84.59.

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 during the quarter, compared to analysts' expectations of $526.98 million. Graco had a net margin of 23.00% and a return on equity of 19.38%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. On average, equities analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Insider Activity

In other Graco news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $86.23, for a total transaction of $309,393.24. Following the completion of the transaction, the insider now directly owns 27,520 shares of the company's stock, valued at approximately $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.19% of the company's stock.

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.