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

Burgundy Asset Management Ltd. lifted its stake in Graco Inc. (NYSE:GGG - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. 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 about 0.53% of Graco worth $75,060,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Institute for Wealth Management LLC. lifted its stake in shares of Graco by 2.5% in the fourth quarter. Institute for Wealth Management LLC. now owns 4,860 shares of the industrial products company's stock valued at $410,000 after buying an additional 119 shares during the period. Optas LLC raised its position in Graco by 4.0% in the fourth quarter. Optas LLC now owns 3,360 shares of the industrial products company's stock worth $283,000 after purchasing an additional 128 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in Graco by 1.0% in the fourth quarter. Orion Portfolio Solutions LLC now owns 14,548 shares of the industrial products company's stock worth $1,226,000 after purchasing an additional 138 shares in the last quarter. IFP Advisors Inc raised its position in Graco by 6.1% in the fourth quarter. IFP Advisors Inc now owns 2,782 shares of the industrial products company's stock worth $235,000 after purchasing an additional 160 shares in the last quarter. Finally, Marshall Financial Group LLC raised its position in Graco by 1.3% in the fourth quarter. Marshall Financial Group LLC now owns 12,583 shares of the industrial products company's stock worth $1,061,000 after purchasing an additional 164 shares in the last quarter. Institutional investors own 93.88% of the company's stock.

Insider Activity at Graco

In related news, insider David J. Thompson sold 3,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $86.23, for a total value of $309,393.24. Following the completion of the sale, the insider now owns 27,520 shares of the company's stock, valued at $2,373,049.60. This trade represents a 11.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Graco Trading Down 1.1%

Shares of Graco stock traded down $0.89 during midday trading on Friday, reaching $83.63. The company had a trading volume of 459,093 shares, compared to its average volume of 821,882. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 29.66, a price-to-earnings-growth ratio of 2.85 and a beta of 1.09. The stock has a fifty day simple moving average of $81.73 and a 200 day simple moving average of $84.61. 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 issued its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.02. The business had revenue of $528.28 million during the quarter, compared to analyst estimates of $526.98 million. Graco had a net margin of 23.00% and a return on equity of 19.38%. Graco's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. Sell-side analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

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.