Covestor Ltd Increases Stock Holdings in W.W. Grainger, Inc. (NYSE:GWW)

Covestor Ltd boosted its stake in W.W. Grainger, Inc. (NYSE:GWW) by 53.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 140 shares of the industrial products company’s stock after buying an additional 49 shares during the quarter. Covestor Ltd’s holdings in W.W. Grainger were worth $143,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of GWW. Clearbridge Investments LLC boosted its stake in shares of W.W. Grainger by 1.3% in the 4th quarter. Clearbridge Investments LLC now owns 978,154 shares of the industrial products company’s stock worth $810,586,000 after buying an additional 12,445 shares during the last quarter. Franklin Resources Inc. grew its stake in W.W. Grainger by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 689,090 shares of the industrial products company’s stock valued at $571,042,000 after purchasing an additional 11,460 shares during the period. Norges Bank purchased a new stake in shares of W.W. Grainger during the 4th quarter valued at $392,470,000. Dimensional Fund Advisors LP raised its stake in shares of W.W. Grainger by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 440,860 shares of the industrial products company’s stock worth $365,334,000 after purchasing an additional 10,940 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of W.W. Grainger by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 265,103 shares of the industrial products company’s stock worth $219,688,000 after buying an additional 4,893 shares during the last quarter. 80.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Erste Group Bank reaffirmed a “hold” rating on shares of W.W. Grainger in a research report on Friday, June 14th. Baird R W downgraded W.W. Grainger from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Loop Capital decreased their target price on W.W. Grainger from $1,000.00 to $975.00 and set a “hold” rating for the company in a research report on Monday, April 29th. StockNews.com downgraded W.W. Grainger from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Robert W. Baird cut W.W. Grainger from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $1,000.00 to $975.00 in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $959.44.

W.W. Grainger Price Performance

NYSE GWW traded down $6.45 during trading on Wednesday, reaching $944.85. The company’s stock had a trading volume of 49,919 shares, compared to its average volume of 243,729. The stock has a market capitalization of $46.36 billion, a PE ratio of 26.26, a P/E/G ratio of 1.87 and a beta of 1.17. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.33. The firm has a fifty day moving average of $924.50 and a 200 day moving average of $939.12. W.W. Grainger, Inc. has a one year low of $674.41 and a one year high of $1,034.18.

W.W. Grainger (NYSE:GWW) last announced its earnings results on Thursday, April 25th. The industrial products company reported $9.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.57 by $0.05. W.W. Grainger had a net margin of 10.94% and a return on equity of 54.31%. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. During the same period in the previous year, the business posted $9.61 earnings per share. W.W. Grainger’s revenue for the quarter was up 3.5% on a year-over-year basis. Analysts expect that W.W. Grainger, Inc. will post 39.19 EPS for the current fiscal year.

Insider Transactions at W.W. Grainger

In related news, SVP Matt Fortin sold 511 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $915.20, for a total transaction of $467,667.20. Following the transaction, the senior vice president now directly owns 1,848 shares of the company’s stock, valued at approximately $1,691,289.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.50% of the company’s stock.

W.W. Grainger Company 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.