Wealth Enhancement Advisory Services LLC Boosts Position in Graco Inc. (NYSE:GGG)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Graco Inc. (NYSE:GGG - Free Report) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,803 shares of the industrial products company's stock after purchasing an additional 3,550 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.06% of Graco worth $8,251,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GGG. Charles Schwab Investment Management Inc. raised its position in shares of Graco by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,054,966 shares of the industrial products company's stock worth $88,923,000 after acquiring an additional 19,545 shares in the last quarter. Whittier Trust Co. raised its holdings in Graco by 3.4% in the fourth quarter. Whittier Trust Co. now owns 184,103 shares of the industrial products company's stock worth $15,518,000 after purchasing an additional 6,041 shares in the last quarter. Vanguard Group Inc. lifted its position in Graco by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 17,141,579 shares of the industrial products company's stock valued at $1,444,864,000 after buying an additional 183,335 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Graco by 150.6% during the 1st quarter. Farther Finance Advisors LLC now owns 7,998 shares of the industrial products company's stock valued at $675,000 after buying an additional 4,806 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Graco during the 4th quarter valued at $3,138,000. 93.88% of the stock is currently owned by hedge funds and other institutional investors.

Graco Trading Down 0.1%

Graco stock traded down $0.10 during mid-day trading on Friday, hitting $86.16. The company had a trading volume of 1,727,288 shares, compared to its average volume of 809,361. Graco Inc. has a 12 month low of $72.06 and a 12 month high of $92.86. The company has a market capitalization of $14.40 billion, a PE ratio of 30.45, a price-to-earnings-growth ratio of 2.88 and a beta of 1.07. The stock's 50 day moving average price is $83.73 and its two-hundred day moving average price is $83.83.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. Graco had a net margin of 22.70% and a return on equity of 19.42%. The company had revenue of $528.28 million for the quarter, compared to analysts' expectations of $526.98 million. During the same quarter in the previous year, the business posted $0.65 EPS. Graco's revenue was up 7.3% compared to the same quarter last year. Equities research analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Monday, July 21st will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Monday, July 21st. Graco's payout ratio is 38.87%.

Insider Activity at Graco

In related news, insider David J. Thompson sold 3,588 shares of Graco stock in a transaction dated Tuesday, May 13th. The stock was 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 directly owns 27,520 shares in the company, valued at approximately $2,373,049.60. This trade represents a 11.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.19% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, Wolfe Research assumed coverage on shares of Graco in a research note on Wednesday, June 18th. They issued an "outperform" rating for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

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.