iA Global Asset Management Inc. Boosts Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

Key Points

• iA Global Asset Management Inc. increased its position in W.W. Grainger, Inc. by 20.2% in the first quarter, bringing its holdings to approximately $1.90 million.
• Several hedge funds notably raised their stakes in W.W. Grainger, with Brighton Jones LLC increasing its holdings by 46.8% during Q4, reflecting growing institutional interest.
• W.W. Grainger's quarterly earnings report showed $9.97 EPS, which missed expectations, while revenue rose 5.6% year-over-year to $4.55 billion.

iA Global Asset Management Inc. increased its position in shares of W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 20.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,926 shares of the industrial products company's stock after buying an additional 324 shares during the period. iA Global Asset Management Inc.'s holdings in W.W. Grainger were worth $1,903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GWW. N.E.W. Advisory Services LLC bought a new stake in shares of W.W. Grainger during the 1st quarter valued at about $25,000. Investment Management Corp VA ADV bought a new position in shares of W.W. Grainger in the fourth quarter valued at approximately $35,000. Cornerstone Planning Group LLC lifted its stake in W.W. Grainger by 34.3% during the first quarter. Cornerstone Planning Group LLC now owns 47 shares of the industrial products company's stock valued at $47,000 after purchasing an additional 12 shares during the last quarter. Quarry LP acquired a new stake in W.W. Grainger during the fourth quarter valued at approximately $54,000. Finally, Columbia River Financial Group LLC purchased a new stake in shares of W.W. Grainger in the 1st quarter valued at approximately $65,000. Hedge funds and other institutional investors own 80.70% of the company's stock.

W.W. Grainger Trading Up 0.7%

Shares of W.W. Grainger stock traded up $6.24 on Friday, reaching $948.75. 208,663 shares of the company's stock were exchanged, compared to its average volume of 404,106. The company has a market capitalization of $45.38 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 2.73 and a beta of 1.18. W.W. Grainger, Inc. has a 52 week low of $893.99 and a 52 week high of $1,227.66. The firm's 50-day moving average is $1,037.69 and its two-hundred day moving average is $1,028.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.64 and a current ratio of 2.82.

W.W. Grainger (NYSE:GWW - Get Free Report) last announced its earnings results on Friday, August 1st. The industrial products company reported $9.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.07 by ($0.10). The business had revenue of $4.55 billion for the quarter, compared to analysts' expectations of $4.52 billion. W.W. Grainger had a net margin of 10.99% and a return on equity of 49.63%. The company's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $9.76 earnings per share. Sell-side analysts predict that W.W. Grainger, Inc. will post 40.3 EPS for the current fiscal year.

W.W. Grainger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Monday, August 11th will be paid a dividend of $2.26 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $9.04 annualized dividend and a dividend yield of 1.0%. W.W. Grainger's payout ratio is 22.94%.

Insider Activity

In other news, VP Krantz Nancy L. Berardinelli sold 280 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $1,075.20, for a total value of $301,056.00. Following the sale, the vice president directly owned 3,369 shares of the company's stock, valued at approximately $3,622,348.80. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on GWW shares. Royal Bank Of Canada dropped their price objective on shares of W.W. Grainger from $1,176.00 to $1,007.00 and set a "sector perform" rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. increased their price target on shares of W.W. Grainger from $1,100.00 to $1,125.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Morgan Stanley reduced their price objective on shares of W.W. Grainger from $1,215.00 to $1,160.00 and set an "equal weight" rating for the company in a report on Friday, July 11th. Finally, Loop Capital lowered their price objective on shares of W.W. Grainger from $1,000.00 to $950.00 and set a "hold" rating for the company in a research report on Monday, August 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, W.W. Grainger presently has a consensus rating of "Hold" and an average price target of $1,080.38.

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.