Meritage Portfolio Management Purchases 145 Shares of W.W. Grainger, Inc. (NYSE:GWW)

Meritage Portfolio Management boosted its position in W.W. Grainger, Inc. (NYSE:GWWGet Rating) by 1.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,913 shares of the industrial products company’s stock after buying an additional 145 shares during the period. Meritage Portfolio Management’s holdings in W.W. Grainger were worth $5,629,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in W.W. Grainger by 3.4% during the 4th quarter. State Street Corp now owns 2,312,747 shares of the industrial products company’s stock valued at $1,198,558,000 after purchasing an additional 76,183 shares during the last quarter. Bank of America Corp DE boosted its stake in W.W. Grainger by 4.6% during the 4th quarter. Bank of America Corp DE now owns 897,222 shares of the industrial products company’s stock valued at $464,975,000 after purchasing an additional 39,679 shares during the last quarter. Geode Capital Management LLC boosted its stake in W.W. Grainger by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 859,371 shares of the industrial products company’s stock valued at $444,380,000 after purchasing an additional 58,449 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in W.W. Grainger by 12.1% during the 4th quarter. Nuveen Asset Management LLC now owns 633,138 shares of the industrial products company’s stock valued at $328,118,000 after purchasing an additional 68,577 shares during the last quarter. Finally, Norges Bank acquired a new position in W.W. Grainger during the 4th quarter valued at about $214,942,000. Institutional investors and hedge funds own 79.47% of the company’s stock.

In other news, VP Laurie R. Thomson sold 276 shares of the stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $492.05, for a total transaction of $135,805.80. Following the completion of the sale, the vice president now directly owns 1,928 shares in the company, valued at $948,672.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Deidra C. Merriwether sold 488 shares of the stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $488.62, for a total transaction of $238,446.56. Following the completion of the transaction, the chief financial officer now directly owns 7,605 shares of the company’s stock, valued at $3,715,955.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,030 shares of company stock valued at $6,370,241. Company insiders own 10.00% of the company’s stock.

A number of brokerages have recently weighed in on GWW. Stephens boosted their target price on W.W. Grainger from $510.00 to $565.00 in a research note on Monday, May 2nd. Atlantic Securities upgraded W.W. Grainger from a “neutral” rating to an “overweight” rating and set a $580.00 target price on the stock in a research note on Tuesday, March 15th. Morgan Stanley cut their target price on W.W. Grainger from $474.00 to $449.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 31st. Wolfe Research upgraded W.W. Grainger from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, April 6th. Finally, StockNews.com downgraded W.W. Grainger from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 16th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $511.38.

Shares of NYSE:GWW opened at $455.17 on Wednesday. W.W. Grainger, Inc. has a 52-week low of $391.16 and a 52-week high of $529.91. The firm has a fifty day moving average of $475.12 and a 200 day moving average of $489.55. The firm has a market capitalization of $23.26 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 1.35 and a beta of 1.18. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.44 and a current ratio of 2.55.

W.W. Grainger (NYSE:GWWGet Rating) last announced its earnings results on Thursday, April 28th. The industrial products company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.16 by $0.91. W.W. Grainger had a net margin of 8.58% and a return on equity of 53.07%. The company had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the business earned $4.48 earnings per share. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, sell-side analysts forecast that W.W. Grainger, Inc. will post 26.29 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 9th were given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.51%. This is a positive change from W.W. Grainger’s previous quarterly dividend of $1.62. The ex-dividend date was Friday, May 6th. W.W. Grainger’s dividend payout ratio is presently 30.67%.

W.W. Grainger Company Profile (Get Rating)

W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) 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. It offers safety and security supplies, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance supplies, and metalworking and hand tools.

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Institutional Ownership by Quarter for W.W. Grainger (NYSE:GWW)

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