Great Lakes Advisors LLC Cuts Holdings in W.W. Grainger, Inc. (NYSE:GWW)

Posted by Defense World Staff on Aug 21st, 2023

W.W. Grainger logo Great Lakes Advisors LLC cut its holdings in W.W. Grainger, Inc. (NYSE:GWW – Free Report) by 7.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,020 shares of the industrial products company’s stock after selling 252 shares during the quarter. Great Lakes Advisors LLC’s holdings in W.W. Grainger were worth $2,081,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Clear Street Markets LLC acquired a new position in W.W. Grainger during the fourth quarter worth $26,000. Spire Wealth Management boosted its position in W.W. Grainger by 220.0% during the fourth quarter. Spire Wealth Management now owns 48 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 33 shares during the last quarter. Retirement Group LLC boosted its holdings in shares of W.W. Grainger by 2,450.0% in the 4th quarter. Retirement Group LLC now owns 51 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 49 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of W.W. Grainger in the 1st quarter valued at $29,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of W.W. Grainger in the 4th quarter valued at $29,000. 72.65% of the stock is currently owned by hedge funds and other institutional investors.

W.W. Grainger Trading Up 0.0 %

W.W. Grainger stock opened at $703.55 on Monday. The company has a quick ratio of 1.63, a current ratio of 2.78 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $746.26 and a two-hundred day moving average price of $698.32. The firm has a market capitalization of $35.18 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.50 and a beta of 1.21. W.W. Grainger, Inc. has a 52-week low of $483.19 and a 52-week high of $811.60.

W.W. Grainger (NYSE:GWW – Get Free Report) last posted its earnings results on Thursday, July 27th. The industrial products company reported $9.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.96 by $0.32. The firm had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.20 billion. W.W. Grainger had a net margin of 11.04% and a return on equity of 60.40%. W.W. Grainger’s revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $7.19 EPS. Sell-side analysts expect that W.W. Grainger, Inc. will post 36.05 earnings per share for the current year.

W.W. Grainger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 14th will be given a dividend of $1.86 per share. The ex-dividend date is Friday, August 11th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 1.06%. W.W. Grainger’s dividend payout ratio (DPR) is 21.44%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Stephens reissued an “equal weight” rating and issued a $775.00 target price on shares of W.W. Grainger in a research note on Friday. StockNews.com began coverage on shares of W.W. Grainger in a research note on Thursday. They set a “buy” rating on the stock. Oppenheimer lifted their price target on shares of W.W. Grainger from $785.00 to $800.00 in a research note on Friday, April 28th. UBS Group downgraded shares of W.W. Grainger from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $815.00 to $820.00 in a research note on Wednesday, July 12th. Finally, Morgan Stanley lifted their price target on shares of W.W. Grainger from $647.00 to $653.00 and gave the stock an “underweight” rating in a research note on Friday, July 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, W.W. Grainger currently has an average rating of “Hold” and a consensus target price of $743.38.

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About W.W. Grainger

(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.