Envestnet Portfolio Solutions Inc. Grows Position in Graco Inc. (NYSE:GGG)

Envestnet Portfolio Solutions Inc. raised its position in Graco Inc. (NYSE:GGG) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,239 shares of the industrial products company’s stock after buying an additional 411 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Graco were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GGG. Golden State Wealth Management LLC acquired a new stake in shares of Graco during the fourth quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in Graco during the 3rd quarter worth approximately $30,000. National Pension Service purchased a new position in shares of Graco in the 4th quarter valued at approximately $34,000. Whipplewood Advisors LLC acquired a new position in shares of Graco in the fourth quarter valued at approximately $37,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Graco during the fourth quarter worth approximately $61,000. 93.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GGG has been the topic of a number of analyst reports. DA Davidson set a $85.00 price objective on shares of Graco in a research report on Friday, January 31st. Royal Bank of Canada boosted their price target on shares of Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, BNP Paribas upgraded shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Graco presently has a consensus rating of “Hold” and a consensus target price of $93.00.

Graco Stock Up 0.4 %

Shares of NYSE GGG opened at $84.59 on Thursday. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 2.85 and a beta of 0.83. Graco Inc. has a 52 week low of $77.49 and a 52 week high of $94.47. The firm has a 50-day moving average price of $85.08 and a 200 day moving average price of $85.59.

Graco (NYSE:GGG) last announced its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. Equities research analysts expect that Graco Inc. will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Monday, April 14th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Monday, April 14th. Graco’s dividend payout ratio is currently 39.01%.

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.