Cove Private Wealth LLC Takes Position in W.W. Grainger, Inc. (NYSE:GWW)

Cove Private Wealth LLC bought a new position in W.W. Grainger, Inc. (NYSE:GWW) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 390 shares of the industrial products company’s stock, valued at approximately $411,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trueblood Wealth Management LLC raised its holdings in shares of W.W. Grainger by 4.8% during the 4th quarter. Trueblood Wealth Management LLC now owns 501 shares of the industrial products company’s stock worth $528,000 after acquiring an additional 23 shares in the last quarter. LVW Advisors LLC raised its stake in W.W. Grainger by 136.5% during the fourth quarter. LVW Advisors LLC now owns 603 shares of the industrial products company’s stock valued at $636,000 after purchasing an additional 348 shares in the last quarter. Terra Nova Asset Management LLC raised its stake in W.W. Grainger by 0.6% during the fourth quarter. Terra Nova Asset Management LLC now owns 2,152 shares of the industrial products company’s stock valued at $2,268,000 after purchasing an additional 12 shares in the last quarter. Liberty One Investment Management LLC lifted its position in W.W. Grainger by 9.8% during the fourth quarter. Liberty One Investment Management LLC now owns 279 shares of the industrial products company’s stock valued at $294,000 after purchasing an additional 25 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in shares of W.W. Grainger in the 4th quarter worth $519,000. 80.70% of the stock is owned by institutional investors.

W.W. Grainger Stock Up 0.2 %

Shares of GWW opened at $1,113.05 on Monday. The firm has a market capitalization of $54.21 billion, a P/E ratio of 30.17, a P/E/G ratio of 2.70 and a beta of 1.18. W.W. Grainger, Inc. has a 12-month low of $855.01 and a 12-month high of $1,227.66. The firm has a fifty day moving average price of $1,133.37 and a 200-day moving average price of $1,052.65. The company has a current ratio of 2.59, a quick ratio of 1.68 and a debt-to-equity ratio of 0.59.

W.W. Grainger (NYSE:GWW) last issued its earnings results on Thursday, October 31st. The industrial products company reported $9.87 EPS for the quarter, missing analysts’ consensus estimates of $9.98 by ($0.11). The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.40 billion. W.W. Grainger had a return on equity of 51.78% and a net margin of 10.80%. W.W. Grainger’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.43 earnings per share. Equities research analysts expect that W.W. Grainger, Inc. will post 38.97 earnings per share for the current year.

W.W. Grainger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Monday, November 11th were given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Friday, November 8th. W.W. Grainger’s dividend payout ratio (DPR) is presently 22.23%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Loop Capital increased their price target on shares of W.W. Grainger from $900.00 to $1,100.00 and gave the company a “hold” rating in a report on Monday, October 21st. Northcoast Research initiated coverage on W.W. Grainger in a research note on Tuesday, October 29th. They issued a “neutral” rating for the company. Royal Bank of Canada lifted their target price on W.W. Grainger from $1,018.00 to $1,125.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Bank of America started coverage on W.W. Grainger in a report on Monday, October 7th. They set an “underperform” rating and a $925.00 price target on the stock. Finally, Oppenheimer lowered shares of W.W. Grainger from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $1,140.56.

Insiders Place Their Bets

In related news, VP Laurie R. Thomson sold 125 shares of W.W. Grainger stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $1,206.03, for a total transaction of $150,753.75. Following the transaction, the vice president now directly owns 675 shares of the company’s stock, valued at $814,070.25. This trade represents a 15.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Deidra C. Merriwether sold 704 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $1,105.59, for a total value of $778,335.36. Following the sale, the chief financial officer now owns 9,509 shares of the company’s stock, valued at approximately $10,513,055.31. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,406 shares of company stock worth $11,634,643. 9.50% of the stock is currently owned by company insiders.

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.