Pictet Asset Management Ltd. lessened its stake in shares of W W Grainger Inc (NYSE:GWW) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,001 shares of the industrial products company’s stock after selling 1,240 shares during the period. Pictet Asset Management Ltd.’s holdings in W W Grainger were worth $10,008,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in GWW. Piedmont Investment Advisors LLC purchased a new stake in shares of W W Grainger in the 2nd quarter worth $178,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of W W Grainger by 80.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 5,184 shares of the industrial products company’s stock worth $1,599,000 after purchasing an additional 2,316 shares in the last quarter. Smith Asset Management Group LP purchased a new stake in shares of W W Grainger in the 2nd quarter worth $10,516,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of W W Grainger in the 2nd quarter worth $2,629,000. Finally, Victory Capital Management Inc. increased its stake in shares of W W Grainger by 12.0% in the 2nd quarter. Victory Capital Management Inc. now owns 8,257 shares of the industrial products company’s stock worth $2,546,000 after purchasing an additional 882 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.
Shares of GWW stock opened at $289.43 on Friday. W W Grainger Inc has a 52-week low of $221.24 and a 52-week high of $372.06. The company has a quick ratio of 1.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $16.87 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 1.48 and a beta of 1.11.
W W Grainger (NYSE:GWW) last issued its quarterly earnings results on Tuesday, October 16th. The industrial products company reported $4.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.96 by $0.23. W W Grainger had a return on equity of 45.22% and a net margin of 6.51%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the business posted $2.79 EPS. W W Grainger’s revenue for the quarter was up 7.4% compared to the same quarter last year. Analysts expect that W W Grainger Inc will post 16.3 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, December 1st. Shareholders of record on Monday, November 12th were paid a $1.36 dividend. The ex-dividend date was Thursday, November 8th. This represents a $5.44 dividend on an annualized basis and a yield of 1.88%. W W Grainger’s payout ratio is presently 47.47%.
Several equities research analysts have recently commented on the company. Macquarie upped their price objective on W W Grainger from $314.00 to $358.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 22nd. Oppenheimer upped their price objective on W W Grainger from $380.00 to $400.00 and gave the stock an “outperform” rating in a research note on Thursday, August 23rd. UBS Group upped their price objective on W W Grainger from $340.00 to $365.00 and gave the stock a “hold” rating in a research note on Thursday, August 30th. Gordon Haskett assumed coverage on W W Grainger in a research note on Friday, October 12th. They issued a “hold” rating for the company. Finally, ValuEngine lowered W W Grainger from a “buy” rating to a “hold” rating in a research note on Wednesday, October 17th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has given a buy rating to the stock. W W Grainger presently has a consensus rating of “Hold” and a consensus price target of $308.43.
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About W W Grainger
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) supplies; and other related products and services that are used by businesses and institutions in the United States, Canada, Europe, Asia, and Latin America. The company offers material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, metalworking tools, and various other products.
Read More: Price to Earnings Ratio (PE) Basics
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