William Blair Investment Management LLC Has $4.47 Million Position in Graco Inc. $GGG

William Blair Investment Management LLC cut its position in shares of Graco Inc. (NYSE:GGG) by 31.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,506 shares of the industrial products company’s stock after selling 24,434 shares during the period. William Blair Investment Management LLC’s holdings in Graco were worth $4,468,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Caisse de depot et placement du Quebec grew its stake in Graco by 236.4% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,279,553 shares of the industrial products company’s stock valued at $108,711,000 after buying an additional 899,174 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Graco by 20,706.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 556,362 shares of the industrial products company’s stock valued at $45,605,000 after purchasing an additional 553,688 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Graco by 116.8% during the 2nd quarter. AQR Capital Management LLC now owns 735,146 shares of the industrial products company’s stock worth $63,201,000 after acquiring an additional 396,125 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Graco by 877.5% during the 3rd quarter. Schroder Investment Management Group now owns 334,947 shares of the industrial products company’s stock worth $28,300,000 after acquiring an additional 300,682 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Graco by 299.6% during the 4th quarter. Nordea Investment Management AB now owns 342,247 shares of the industrial products company’s stock worth $28,263,000 after acquiring an additional 256,593 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Andrea Helen Simon bought 1,240 shares of the business’s stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the acquisition, the director directly owned 1,240 shares in the company, valued at approximately $99,857.20. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.18% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GGG shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $95.00 price target on shares of Graco in a report on Friday, April 24th. Robert W. Baird lowered their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Jefferies Financial Group upped their price target on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. KeyCorp reissued a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Finally, Weiss Ratings lowered Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.25.

Graco Price Performance

Shares of GGG opened at $76.31 on Wednesday. Graco Inc. has a one year low of $74.24 and a one year high of $95.69. The company has a market cap of $12.67 billion, a PE ratio of 24.86, a P/E/G ratio of 2.43 and a beta of 0.96. The stock has a 50-day moving average of $82.26 and a 200-day moving average of $84.87.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). Graco had a return on equity of 18.66% and a net margin of 22.96%.The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. During the same period last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Analysts expect that Graco Inc. will post 3.12 EPS for the current fiscal year.

Graco Company 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.