PNC Financial Services Group Inc. lessened its holdings in W.W. Grainger, Inc. (NYSE:GWW) by 5.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,953 shares of the industrial products company’s stock after selling 4,701 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.13% of W.W. Grainger worth $13,892,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in W.W. Grainger by 3.7% in the first quarter. Vanguard Group Inc. now owns 5,438,209 shares of the industrial products company’s stock valued at $1,265,798,000 after buying an additional 192,967 shares during the last quarter. Longview Partners Guernsey LTD increased its holdings in W.W. Grainger by 32.6% in the second quarter. Longview Partners Guernsey LTD now owns 3,755,706 shares of the industrial products company’s stock valued at $678,018,000 after buying an additional 923,948 shares during the last quarter. BlackRock Inc. increased its holdings in W.W. Grainger by 1.7% in the second quarter. BlackRock Inc. now owns 3,476,970 shares of the industrial products company’s stock valued at $627,699,000 after buying an additional 59,673 shares during the last quarter. Clearbridge Investments LLC increased its holdings in W.W. Grainger by 12.1% in the first quarter. Clearbridge Investments LLC now owns 1,070,611 shares of the industrial products company’s stock valued at $249,195,000 after buying an additional 115,704 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in W.W. Grainger by 16.3% in the second quarter. Neuberger Berman Group LLC now owns 852,421 shares of the industrial products company’s stock valued at $153,888,000 after buying an additional 119,186 shares during the last quarter. 80.58% of the stock is currently owned by hedge funds and other institutional investors.
GWW has been the topic of several recent analyst reports. J P Morgan Chase & Co initiated coverage on W.W. Grainger in a report on Friday, June 2nd. They issued a “neutral” rating and a $180.00 target price on the stock. Credit Suisse Group reissued an “underperform” rating and issued a $150.00 target price (down previously from $175.00) on shares of W.W. Grainger in a report on Thursday, July 20th. Zacks Investment Research downgraded shares of W.W. Grainger from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub upgraded shares of W.W. Grainger from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Royal Bank Of Canada restated a “sell” rating and issued a $145.00 price objective on shares of W.W. Grainger in a research note on Wednesday, September 6th. Six analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $179.42.
Shares of W.W. Grainger, Inc. (GWW) opened at 175.18 on Thursday. W.W. Grainger, Inc. has a 52 week low of $155.00 and a 52 week high of $262.71. The firm has a market cap of $10.11 billion, a P/E ratio of 20.19 and a beta of 0.74. The stock’s 50 day moving average is $164.63 and its 200 day moving average is $187.97.
W.W. Grainger (NYSE:GWW) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.09. W.W. Grainger had a net margin of 5.08% and a return on equity of 34.03%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm earned $2.89 EPS. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that W.W. Grainger, Inc. will post $10.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were given a dividend of $1.28 per share. This represents a $5.12 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, August 10th. W.W. Grainger’s dividend payout ratio is presently 59.12%.
About W.W. Grainger
W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.
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