Welch & Forbes LLC Cuts Position in W.W. Grainger, Inc. (NYSE:GWW)

Welch & Forbes LLC cut its holdings in W.W. Grainger, Inc. (NYSE:GWW) by 11.4% during the first quarter, HoldingsChannel reports. The fund owned 426 shares of the industrial products company’s stock after selling 55 shares during the period. Welch & Forbes LLC’s holdings in W.W. Grainger were worth $421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GWW. Cyrus J. Lawrence LLC acquired a new stake in W.W. Grainger during the 4th quarter valued at $31,000. Investment Management Corp VA ADV purchased a new position in W.W. Grainger in the fourth quarter valued at about $35,000. Cornerstone Planning Group LLC raised its stake in shares of W.W. Grainger by 34.3% during the first quarter. Cornerstone Planning Group LLC now owns 47 shares of the industrial products company’s stock valued at $47,000 after purchasing an additional 12 shares during the period. Quarry LP acquired a new position in shares of W.W. Grainger in the fourth quarter worth about $54,000. Finally, Columbia River Financial Group LLC bought a new stake in shares of W.W. Grainger in the first quarter worth $65,000. 80.70% of the stock is currently owned by hedge funds and other institutional investors.

W.W. Grainger Price Performance

GWW opened at $1,021.34 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.74 and a quick ratio of 1.60. The stock’s 50 day simple moving average is $1,061.32 and its 200 day simple moving average is $1,036.75. The firm has a market cap of $49.06 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 2.73 and a beta of 1.18. W.W. Grainger, Inc. has a 1 year low of $893.99 and a 1 year high of $1,227.66.

W.W. Grainger (NYSE:GWW) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.51 by $0.35. W.W. Grainger had a net margin of 11.08% and a return on equity of 51.28%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same quarter last year, the firm earned $9.62 EPS. The company’s revenue was up 1.7% on a year-over-year basis. As a group, analysts predict that W.W. Grainger, Inc. will post 40.3 earnings per share for the current year.

W.W. Grainger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Monday, May 12th were paid a $2.26 dividend. This represents a $9.04 annualized dividend and a yield of 0.89%. This is a boost from W.W. Grainger’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, May 12th. W.W. Grainger’s dividend payout ratio is presently 23.21%.

Insiders Place Their Bets

In related news, VP Krantz Nancy L. Berardinelli sold 280 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $1,075.20, for a total transaction of $301,056.00. Following the sale, the vice president owned 3,369 shares of the company’s stock, valued at $3,622,348.80. The trade was a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Laurie R. Thomson sold 761 shares of W.W. Grainger stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $1,042.86, for a total value of $793,616.46. Following the transaction, the vice president owned 578 shares of the company’s stock, valued at $602,773.08. The trade was a 56.83% decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on GWW shares. Morgan Stanley lowered their target price on shares of W.W. Grainger from $1,215.00 to $1,160.00 and set an “equal weight” rating on the stock in a research note on Friday, July 11th. Royal Bank Of Canada increased their price objective on W.W. Grainger from $1,097.00 to $1,144.00 and gave the company a “sector perform” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their target price on W.W. Grainger from $1,100.00 to $1,125.00 and gave the company a “neutral” rating in a report on Tuesday, May 27th. Finally, Wolfe Research cut shares of W.W. Grainger from a “peer perform” rating to an “underperform” rating and set a $966.00 price objective on the stock. in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, W.W. Grainger presently has an average rating of “Hold” and an average target price of $1,116.25.

W.W. Grainger Profile

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