W.W. Grainger, Inc. (NYSE:GWW) Shares Acquired by Allworth Financial LP

Posted by Defense World Staff on Jul 1st, 2023

W.W. Grainger logo Allworth Financial LP raised its stake in shares of W.W. Grainger, Inc. (NYSE:GWW – Free Report) by 12.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,903 shares of the industrial products company’s stock after acquiring an additional 211 shares during the period. Allworth Financial LP’s holdings in W.W. Grainger were worth $1,310,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Clear Street Markets LLC acquired a new stake in shares of W.W. Grainger during the fourth quarter valued at about $26,000. Spire Wealth Management increased its position in shares of W.W. Grainger by 220.0% during the fourth quarter. Spire Wealth Management now owns 48 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 33 shares during the last quarter. Trifecta Capital Advisors LLC acquired a new stake in shares of W.W. Grainger during the fourth quarter valued at about $28,000. Retirement Group LLC increased its position in shares of W.W. Grainger by 2,450.0% during the fourth quarter. Retirement Group LLC now owns 51 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 49 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of W.W. Grainger during the fourth quarter valued at about $29,000. 72.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GWW has been the subject of several recent research reports. Morgan Stanley raised their price objective on shares of W.W. Grainger from $537.00 to $555.00 and gave the company an “underweight” rating in a research note on Wednesday, April 19th. Loop Capital raised their price objective on shares of W.W. Grainger from $750.00 to $800.00 in a research note on Monday, May 1st. Robert W. Baird raised their price objective on shares of W.W. Grainger from $730.00 to $760.00 in a research note on Friday, April 28th. UBS Group raised their price objective on shares of W.W. Grainger from $800.00 to $815.00 in a research note on Friday, April 28th. Finally, 92 Resources reissued a “maintains” rating on shares of W.W. Grainger in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $704.88.

Insider Transactions at W.W. Grainger

In other news, VP Laurie R. Thomson sold 476 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $683.74, for a total transaction of $325,460.24. Following the completion of the sale, the vice president now owns 1,731 shares in the company, valued at approximately $1,183,553.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.90% of the company’s stock.

W.W. Grainger Stock Up 0.8 %

Shares of W.W. Grainger stock opened at $788.59 on Friday. W.W. Grainger, Inc. has a 52-week low of $441.63 and a 52-week high of $795.83. The company has a 50 day moving average of $697.55 and a 200 day moving average of $652.64. The company has a quick ratio of 1.53, a current ratio of 2.70 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $39.56 billion, a P/E ratio of 24.18, a P/E/G ratio of 1.65 and a beta of 1.19.

W.W. Grainger (NYSE:GWW – Free Report) last issued its quarterly earnings results on Thursday, April 27th. The industrial products company reported $9.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.57 by $1.04. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.08 billion. W.W. Grainger had a net margin of 10.65% and a return on equity of 61.00%. The firm’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $7.07 earnings per share. As a group, research analysts forecast that W.W. Grainger, Inc. will post 35.94 EPS for the current fiscal year.

W.W. Grainger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 8th were given a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Friday, May 5th. This is an increase from W.W. Grainger’s previous quarterly dividend of $1.72. W.W. Grainger’s payout ratio is currently 22.82%.

W.W. Grainger Profile

(Free Report)

W.W. Grainger, Inc distributes maintenance, repair, and operating products and services in the United States, Japan, Canada, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. The company provides safety and security supplies, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance supplies, and metalworking and hand tools.