W.W. Grainger (NYSE:GWW) Issues Quarterly Earnings Results

W.W. Grainger (NYSE:GWW) posted its quarterly earnings data on Thursday. The industrial products company reported $9.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.57 by $0.05, Briefing.com reports. The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.26 billion. W.W. Grainger had a return on equity of 56.54% and a net margin of 11.10%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company earned $9.61 EPS. W.W. Grainger updated its FY24 guidance to $38.00-40.50 EPS and its FY 2024 guidance to 38.000-40.500 EPS.

W.W. Grainger Stock Down 2.0 %

NYSE:GWW traded down $19.19 during trading hours on Friday, reaching $928.65. The company’s stock had a trading volume of 357,375 shares, compared to its average volume of 235,833. The stock has a 50 day moving average price of $980.09 and a two-hundred day moving average price of $872.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.64 and a current ratio of 2.88. The company has a market capitalization of $45.62 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. W.W. Grainger has a 12 month low of $641.95 and a 12 month high of $1,034.18.

W.W. Grainger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Monday, May 13th will be paid a dividend of $2.05 per share. The ex-dividend date is Friday, May 10th. This is an increase from W.W. Grainger’s previous quarterly dividend of $1.86. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.88%. W.W. Grainger’s dividend payout ratio (DPR) is currently 20.55%.

Insider Buying and Selling at W.W. Grainger

In other W.W. Grainger news, VP Paige K. Robbins sold 3,122 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $950.22, for a total transaction of $2,966,586.84. Following the completion of the sale, the vice president now directly owns 4,909 shares of the company’s stock, valued at $4,664,629.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other W.W. Grainger news, VP Paige K. Robbins sold 3,813 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $968.88, for a total value of $3,694,339.44. Following the completion of the sale, the vice president now directly owns 4,909 shares in the company, valued at $4,756,231.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Paige K. Robbins sold 3,122 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $950.22, for a total value of $2,966,586.84. Following the sale, the vice president now owns 4,909 shares in the company, valued at approximately $4,664,629.98. The disclosure for this sale can be found here. Insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GWW. Oppenheimer lifted their price objective on shares of W.W. Grainger from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. UBS Group upped their price target on shares of W.W. Grainger from $740.00 to $1,000.00 and gave the company a “neutral” rating in a report on Thursday, March 14th. StockNews.com raised shares of W.W. Grainger from a “hold” rating to a “buy” rating in a research note on Saturday, March 16th. JPMorgan Chase & Co. upped their target price on W.W. Grainger from $800.00 to $925.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada raised their price target on W.W. Grainger from $809.00 to $907.00 and gave the stock a “sector perform” rating in a research note on Monday, February 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, W.W. Grainger presently has a consensus rating of “Hold” and a consensus target price of $913.89.

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.