Teza Capital Management LLC Invests $317,000 in Graco Inc. $GGG

Key Points

• Teza Capital Management LLC made a new investment in Graco Inc. worth approximately $317,000 by acquiring 3,796 shares in the first quarter, as reported in their recent SEC filing.
• Graco's recent earnings report revealed $0.75 EPS, falling short of analysts' expectations of $0.78, while the company experienced a 3.4% year-over-year revenue increase with quarterly revenue at $571.81 million.
• Analysts maintain a consensus rating of “Moderate Buy” for Graco, with a current average target price of $94.50, following upgrades from firms such as Robert W. Baird, which lifted its target price from $88.00 to $91.00.

Teza Capital Management LLC purchased a new stake in shares of Graco Inc. (NYSE:GGG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,796 shares of the industrial products company's stock, valued at approximately $317,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GGG. WPG Advisers LLC bought a new position in shares of Graco during the first quarter valued at $41,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Graco during the fourth quarter valued at $46,000. Golden State Wealth Management LLC boosted its position in shares of Graco by 128.9% during the first quarter. Golden State Wealth Management LLC now owns 689 shares of the industrial products company's stock valued at $58,000 after buying an additional 388 shares during the last quarter. National Pension Service boosted its position in shares of Graco by 74.8% during the first quarter. National Pension Service now owns 699 shares of the industrial products company's stock valued at $58,000 after buying an additional 299 shares during the last quarter. Finally, Brooklyn Investment Group boosted its position in shares of Graco by 92.6% during the first quarter. Brooklyn Investment Group now owns 932 shares of the industrial products company's stock valued at $78,000 after buying an additional 448 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GGG has been the topic of several recent analyst reports. Wolfe Research initiated coverage on Graco in a research report on Wednesday, June 18th. They set an "outperform" rating on the stock. Robert W. Baird increased their price objective on Graco from $88.00 to $91.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $94.50.

Graco Stock Down 1.9%

NYSE:GGG traded down $1.60 on Friday, hitting $84.46. The stock had a trading volume of 555,755 shares, compared to its average volume of 578,658. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03. The business's 50-day simple moving average is $85.61 and its two-hundred day simple moving average is $84.13. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $92.86.

Graco (NYSE:GGG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.03). The firm had revenue of $571.81 million during the quarter, compared to analysts' expectations of $590.57 million. Graco had a return on equity of 19.05% and a net margin of 22.26%.The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 earnings per share. As a group, equities research analysts anticipate that Graco Inc. will post 3.06 EPS for the current year.

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.