Prudential PLC Reduces Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

by · The Markets Daily

Prudential PLC cut its holdings in W.W. Grainger, Inc. (NYSE:GWW – Free Report) by 15.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,111 shares of the industrial products company’s stock after selling 3,073 shares during the period. Prudential PLC’s holdings in W.W. Grainger were worth $18,036,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of W.W. Grainger during the 4th quarter worth about $535,910,000. Raymond James Financial Inc. acquired a new stake in W.W. Grainger during the fourth quarter worth approximately $267,529,000. Proficio Capital Partners LLC purchased a new stake in shares of W.W. Grainger during the 4th quarter worth approximately $175,000. AustralianSuper Pty Ltd lifted its position in shares of W.W. Grainger by 694.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 76,674 shares of the industrial products company’s stock worth $80,818,000 after buying an additional 67,018 shares during the last quarter. Finally, Amundi grew its position in shares of W.W. Grainger by 14.7% in the 4th quarter. Amundi now owns 459,536 shares of the industrial products company’s stock valued at $491,170,000 after buying an additional 58,978 shares during the last quarter. 80.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GWW. William Blair raised shares of W.W. Grainger from a “market perform” rating to an “outperform” rating in a research report on Monday, March 10th. Royal Bank of Canada reduced their target price on W.W. Grainger from $1,113.00 to $1,112.00 and set a “sector perform” rating for the company in a report on Monday, February 3rd. StockNews.com cut W.W. Grainger from a “buy” rating to a “hold” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on W.W. Grainger from $1,125.00 to $1,100.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, Wolfe Research downgraded W.W. Grainger from a “peer perform” rating to an “underperform” rating and set a $966.00 price objective for the company. in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1,130.89.

View Our Latest Stock Analysis on GWW

Insider Activity

In other news, CFO Deidra C. Merriwether sold 1,164 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $997.12, for a total transaction of $1,160,647.68. Following the transaction, the chief financial officer now directly owns 10,235 shares of the company’s stock, valued at $10,205,523.20. This represents a 10.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 6.10% of the company’s stock.

W.W. Grainger Price Performance

Shares of NYSE GWW opened at $972.85 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.49 and a quick ratio of 1.49. The company has a market cap of $46.91 billion, a PE ratio of 25.13, a P/E/G ratio of 2.70 and a beta of 1.20. The stock has a fifty day moving average price of $1,017.02 and a 200 day moving average price of $1,076.46. W.W. Grainger, Inc. has a 1-year low of $874.98 and a 1-year high of $1,227.66.

W.W. Grainger (NYSE:GWW – Get Free Report) last issued its earnings results on Friday, January 31st. The industrial products company reported $9.71 earnings per share for the quarter, missing the consensus estimate of $9.75 by ($0.04). W.W. Grainger had a net margin of 11.12% and a return on equity of 52.43%. During the same quarter in the previous year, the company posted $8.33 earnings per share. Sell-side analysts forecast that W.W. Grainger, Inc. will post 40.3 EPS for the current year.

W.W. Grainger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Monday, February 10th were paid a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Monday, February 10th. W.W. Grainger’s dividend payout ratio (DPR) is 21.18%.

W.W. Grainger Profile

(Free Report)

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.

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