Fiera Capital Corp Sells 281,860 Shares of Graco Inc. (NYSE:GGG)

Fiera Capital Corp lessened its stake in shares of Graco Inc. (NYSE:GGG) by 4.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,859,916 shares of the industrial products company’s stock after selling 281,860 shares during the period. Graco makes up approximately 1.6% of Fiera Capital Corp’s holdings, making the stock its 17th largest holding. Fiera Capital Corp owned approximately 3.47% of Graco worth $493,932,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in Graco in the fourth quarter worth about $25,000. Brooklyn Investment Group purchased a new stake in shares of Graco in the third quarter worth approximately $30,000. Eastern Bank bought a new stake in shares of Graco during the 3rd quarter worth approximately $59,000. MilWealth Group LLC purchased a new position in Graco during the 4th quarter valued at $63,000. Finally, Northwest Investment Counselors LLC bought a new position in Graco in the 3rd quarter valued at $67,000. 93.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GGG shares. Royal Bank of Canada lifted their target price on Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Robert W. Baird decreased their price objective on shares of Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Finally, BNP Paribas upgraded shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $91.50.

Graco Price Performance

GGG stock opened at $85.17 on Thursday. Graco Inc. has a 1-year low of $77.49 and a 1-year high of $94.77. The business has a 50-day moving average price of $85.01 and a 200 day moving average price of $84.77. The company has a market capitalization of $14.38 billion, a P/E ratio of 30.20, a PEG ratio of 2.75 and a beta of 0.84.

Graco (NYSE:GGG) last posted 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 net margin of 23.00% and a return on equity of 19.38%. On average, analysts anticipate that Graco Inc. will post 3.07 earnings per share for the current fiscal year.

Graco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Monday, January 20th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 1.29%. The ex-dividend date was Friday, January 17th. This is a boost from Graco’s previous quarterly dividend of $0.26. Graco’s dividend payout ratio (DPR) is 39.01%.

Insider Activity

In other news, EVP Kathryn L. Schoenrock sold 1,527 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $90.30, for a total value of $137,888.10. Following the sale, the executive vice president now directly owns 6,374 shares in the company, valued at approximately $575,572.20. This trade represents a 19.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Caroline M. Chambers sold 8,280 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $90.57, for a total transaction of $749,919.60. Following the completion of the sale, the insider now owns 57,612 shares of the company’s stock, valued at approximately $5,217,918.84. This trade represents a 12.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.63% of the company’s stock.

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.