Charles Schwab Investment Management Inc. Has $90.61 Million Stock Holdings in Graco Inc. (NYSE:GGG)

Charles Schwab Investment Management Inc. trimmed its stake in shares of Graco Inc. (NYSE:GGG) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,035,421 shares of the industrial products company’s stock after selling 3,368 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Graco were worth $90,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of GGG. PineStone Asset Management Inc. lifted its position in shares of Graco by 134.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock worth $330,532,000 after buying an additional 2,390,602 shares during the period. Principal Financial Group Inc. raised its stake in Graco by 244.4% during the third quarter. Principal Financial Group Inc. now owns 1,990,742 shares of the industrial products company’s stock worth $174,210,000 after acquiring an additional 1,412,704 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Graco during the second quarter valued at $27,502,000. Hsbc Holdings PLC boosted its stake in shares of Graco by 54.2% in the 2nd quarter. Hsbc Holdings PLC now owns 814,321 shares of the industrial products company’s stock valued at $64,502,000 after purchasing an additional 286,212 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Graco by 32.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,069,292 shares of the industrial products company’s stock valued at $84,775,000 after purchasing an additional 259,819 shares in the last quarter. 93.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Graco

In related news, insider David J. Thompson sold 3,216 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $88.31, for a total value of $284,004.96. Following the completion of the sale, the insider now owns 27,246 shares in the company, valued at approximately $2,406,094.26. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Peter J. O’shea sold 18,075 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $88.76, for a total value of $1,604,337.00. Following the transaction, the insider now owns 14,516 shares in the company, valued at approximately $1,288,440.16. This trade represents a 55.46 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.63% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on GGG shares. Royal Bank of Canada decreased their price target on Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Robert W. Baird lowered their target price on Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, October 25th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $79.00 price target on shares of Graco in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.25.

Graco Stock Down 1.8 %

GGG stock opened at $90.61 on Wednesday. Graco Inc. has a twelve month low of $77.49 and a twelve month high of $94.77. The company has a market cap of $15.30 billion, a P/E ratio of 32.02, a PEG ratio of 3.15 and a beta of 0.82. The business has a fifty day moving average of $86.03 and a 200-day moving average of $82.79.

Graco (NYSE:GGG) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). Graco had a net margin of 22.87% and a return on equity of 21.24%. The business had revenue of $519.21 million for the quarter, compared to analyst estimates of $538.19 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that Graco Inc. will post 2.89 earnings per share for the current fiscal year.

Graco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, October 21st. Graco’s dividend payout ratio is presently 36.04%.

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.