Graco Inc. $GGG Shares Purchased by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its Graco stake by 6.8% to 292,949 shares (~$24.9M), while other big moves—most notably Norges Bank's new ~$170.7M position—help push institutional ownership to about 93.88%.
• Company insiders have been net sellers recently: executives sold 19,394 shares (~$1.74M) in the last 90 days, leaving insiders with just 2.19% ownership.
• Analysts are broadly positive (four Buys, three Holds) with a consensus "Moderate Buy" and $96.50 price target; Graco reported Q earnings of $0.77 (in line) and revenue of $593.2M (+8.1% YoY), and announced a $0.295 quarterly dividend plus a 15,000,000-share buyback authorization.

Natixis Advisors LLC boosted its position in shares of Graco Inc. (NYSE:GGG - Free Report) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 292,949 shares of the industrial products company's stock after acquiring an additional 18,712 shares during the period. Natixis Advisors LLC owned about 0.18% of Graco worth $24,889,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Graco in the 2nd quarter valued at about $170,661,000. AQR Capital Management LLC increased its position in Graco by 116.8% during 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 during the period. Sei Investments Co. increased its position in Graco by 94.6% during the second quarter. Sei Investments Co. now owns 508,176 shares of the industrial products company's stock worth $43,688,000 after buying an additional 246,984 shares during the period. Jane Street Group LLC lifted its stake in Graco by 3,165.4% in the second quarter. Jane Street Group LLC now owns 249,703 shares of the industrial products company's stock valued at $21,467,000 after buying an additional 242,056 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Graco by 12.6% in the second quarter. Amundi now owns 2,023,761 shares of the industrial products company's stock valued at $179,083,000 after acquiring an additional 226,284 shares during the period. 93.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GGG has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of Graco from $100.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, January 28th. DA Davidson reiterated a "neutral" rating and set a $85.00 price target on shares of Graco in a research note on Monday, February 2nd. KeyCorp reissued a "sector weight" rating on shares of Graco in a research report on Tuesday, January 27th. Royal Bank Of Canada lifted their price objective on shares of Graco from $97.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, January 28th. Finally, Robert W. Baird set a $96.00 target price 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 MarketBeat.com, Graco presently has an average rating of "Moderate Buy" and a consensus price target of $96.50.

Insider Activity

In related news, EVP Kathryn L. Schoenrock sold 2,223 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $88.06, for a total transaction of $195,757.38. Following the completion of the transaction, the executive vice president directly owned 7,846 shares of the company's stock, valued at $690,918.76. This represents a 22.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director J Kevin Gilligan sold 12,870 shares of the firm's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $89.07, for a total transaction of $1,146,330.90. The SEC filing for this sale provides additional information. Insiders sold 19,394 shares of company stock worth $1,739,326 in the last ninety days. 2.19% of the stock is currently owned by insiders.

Graco Trading Down 0.6%

NYSE:GGG opened at $87.95 on Wednesday. Graco Inc. has a 12-month low of $72.06 and a 12-month high of $95.69. The stock's 50 day simple moving average is $89.35 and its 200-day simple moving average is $85.34. The firm has a market cap of $14.54 billion, a P/E ratio of 28.46, a PEG ratio of 2.78 and a beta of 1.07.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The firm had revenue of $593.16 million during the quarter, compared to the consensus estimate of $591.99 million. During the same period last year, the company earned $0.64 earnings per share. The company's revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts forecast that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be paid a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, April 13th. Graco's dividend payout ratio (DPR) is 38.19%.

Graco declared that its Board of Directors has initiated a share repurchase program on Friday, December 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs 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.

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