William Blair Research Analysts Cut Earnings Estimates for W.W. Grainger, Inc. (NYSE:GWW)

W.W. Grainger, Inc. (NYSE:GWW) – Analysts at William Blair cut their Q3 2024 earnings per share (EPS) estimates for W.W. Grainger in a research note issued on Thursday, August 1st. William Blair analyst R. Merkel now forecasts that the industrial products company will earn $10.31 per share for the quarter, down from their previous forecast of $10.52. The consensus estimate for W.W. Grainger’s current full-year earnings is $39.10 per share. William Blair also issued estimates for W.W. Grainger’s Q4 2024 earnings at $9.16 EPS, FY2024 earnings at $38.85 EPS and FY2025 earnings at $42.75 EPS.

W.W. Grainger (NYSE:GWW) last announced its quarterly earnings data on Thursday, August 1st. The industrial products company reported $9.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.58 by $0.18. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.35 billion. W.W. Grainger had a return on equity of 53.25% and a net margin of 10.86%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.28 EPS.

Several other equities research analysts have also issued reports on GWW. Loop Capital decreased their price target on shares of W.W. Grainger from $1,000.00 to $975.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Erste Group Bank restated a “hold” rating on shares of W.W. Grainger in a research note on Friday, June 14th. Baird R W cut shares of W.W. Grainger from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Royal Bank of Canada dropped their price objective on W.W. Grainger from $978.00 to $972.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, Stephens upgraded shares of W.W. Grainger from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $1,000.00 to $1,250.00 in a research note on Monday, April 29th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, W.W. Grainger presently has an average rating of “Hold” and an average price target of $1,017.13.

W.W. Grainger Stock Performance

Shares of GWW stock opened at $951.92 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 2.30. The firm has a market cap of $46.71 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 1.85 and a beta of 1.17. W.W. Grainger has a 52 week low of $674.41 and a 52 week high of $1,034.18. The firm’s 50-day simple moving average is $924.80 and its two-hundred day simple moving average is $947.23.

W.W. Grainger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Monday, August 12th will be issued a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, August 12th. W.W. Grainger’s dividend payout ratio is currently 22.64%.

Insider Buying and Selling

In other news, SVP Matt Fortin sold 511 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $915.20, for a total value of $467,667.20. Following the completion of the transaction, the senior vice president now directly owns 1,848 shares in the company, valued at approximately $1,691,289.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On W.W. Grainger

A number of hedge funds have recently made changes to their positions in GWW. Atria Wealth Solutions Inc. lifted its stake in W.W. Grainger by 0.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 3,178 shares of the industrial products company’s stock worth $2,633,000 after purchasing an additional 18 shares during the last quarter. Ardevora Asset Management LLP bought a new stake in shares of W.W. Grainger in the 4th quarter valued at about $11,075,000. Brevan Howard Capital Management LP boosted its holdings in W.W. Grainger by 119.5% during the 4th quarter. Brevan Howard Capital Management LP now owns 2,364 shares of the industrial products company’s stock valued at $1,959,000 after acquiring an additional 1,287 shares during the period. Janus Henderson Group PLC grew its position in W.W. Grainger by 36.6% during the 1st quarter. Janus Henderson Group PLC now owns 9,506 shares of the industrial products company’s stock worth $9,664,000 after acquiring an additional 2,548 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in W.W. Grainger by 11.5% in the 4th quarter. National Bank of Canada FI now owns 13,885 shares of the industrial products company’s stock worth $11,292,000 after purchasing an additional 1,432 shares during the period. 80.70% of the stock is currently owned by institutional investors.

About W.W. Grainger

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.