Intech Investment Management LLC Has $3.32 Million Stake in Graco Inc. $GGG

Key Points

• Intech Investment Management LLC reduced its holdings in Graco Inc. by 37.8%, selling 24,208 shares and now owning 39,767 shares valued at approximately $3.32 million.
• Graco's recent earnings report showed $0.75 earnings per share, missing estimates, with revenue of $571.81 million, below the expected $590.57 million.
• Analysts have a consensus price target of $94.50 for Graco, with three ratings as "Buy" and two as "Hold," and Robert W. Baird recently increased their target from $88.00 to $91.00.

Intech Investment Management LLC lessened its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 37.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,767 shares of the industrial products company's stock after selling 24,208 shares during the period. Intech Investment Management LLC's holdings in Graco were worth $3,321,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of GGG. Jefferies Financial Group Inc. bought a new stake in Graco during the fourth quarter worth about $279,000. OMERS ADMINISTRATION Corp raised its holdings in Graco by 13.7% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 7,556 shares of the industrial products company's stock worth $637,000 after acquiring an additional 911 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Graco during the fourth quarter worth about $1,889,000. Quantinno Capital Management LP raised its holdings in Graco by 54.1% during the fourth quarter. Quantinno Capital Management LP now owns 35,335 shares of the industrial products company's stock worth $2,978,000 after acquiring an additional 12,412 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Graco by 7.5% during the fourth quarter. Royal Bank of Canada now owns 326,104 shares of the industrial products company's stock worth $27,487,000 after buying an additional 22,737 shares during the last quarter. Institutional investors own 93.88% of the company's stock.

Wall Street Analyst Weigh In

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

Graco Stock Performance

Shares of Graco stock remained flat at $84.75 on Tuesday. The stock had a trading volume of 932,951 shares, compared to its average volume of 800,066. Graco Inc. has a 52 week low of $72.06 and a 52 week high of $92.86. The company has a fifty day moving average price of $85.55 and a 200 day moving average price of $84.11. The firm has a market capitalization of $14.04 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03.

Graco (NYSE:GGG - Get Free Report) last issued 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 company had revenue of $571.81 million for the quarter, compared to analyst estimates of $590.57 million. Graco had a return on equity of 19.05% and a net margin of 22.26%.The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. On average, equities research analysts expect that Graco Inc. will post 3.06 EPS for the current year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Monday, October 20th will be 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 of this dividend is Monday, October 20th. Graco's dividend payout ratio (DPR) is currently 39.01%.

About Graco

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.