W.W. Grainger, Inc. $GWW Holdings Boosted by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors increased its W.W. Grainger holdings by 15,912.5% in the third quarter, adding 1,273 shares to reach 1,281 shares valued at $1.596 million.
• Grainger reported quarterly EPS of $12.01, beating the $11.30 consensus estimate, while revenue of $5.02 billion exceeded forecasts and rose 10.3% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $1,266.08. The company also declared a quarterly dividend of $2.49 per share, equivalent to a 0.7% yield.

Provenance Wealth Advisors LLC boosted its holdings in W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 15,912.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,281 shares of the industrial products company's stock after purchasing an additional 1,273 shares during the quarter. Provenance Wealth Advisors LLC's holdings in W.W. Grainger were worth $1,596,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GWW. Continuum Advisory LLC bought a new position in shares of W.W. Grainger in the second quarter valued at $34,000. Elevation Wealth Partners LLC grew its holdings in shares of W.W. Grainger by 420.0% during the second quarter. Elevation Wealth Partners LLC now owns 26 shares of the industrial products company's stock valued at $35,000 after buying an additional 21 shares during the last quarter. EFG International AG acquired a new position in shares of W.W. Grainger during the second quarter valued at about $37,000. John Boyer Inc. bought a new stake in shares of W.W. Grainger during the third quarter worth about $35,000. Finally, Caitlin John LLC bought a new stake in shares of W.W. Grainger during the second quarter worth about $48,000. Institutional investors own 80.70% of the company's stock.

W.W. Grainger Price Performance

Shares of NYSE:GWW opened at $1,396.23 on Wednesday. The company has a current ratio of 2.81, a quick ratio of 1.70 and a debt-to-equity ratio of 0.53. The stock's fifty day simple moving average is $1,303.50 and its two-hundred day simple moving average is $1,239.03. W.W. Grainger, Inc. has a 1-year low of $906.52 and a 1-year high of $1,419.91. The stock has a market cap of $65.76 billion, a PE ratio of 35.60, a price-to-earnings-growth ratio of 2.44 and a beta of 0.95.

W.W. Grainger (NYSE:GWW - Get Free Report) last posted its earnings results on Tuesday, August 4th. The industrial products company reported $12.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.30 by $0.71. The firm had revenue of $5.02 billion during the quarter, compared to analyst estimates of $4.96 billion. W.W. Grainger had a net margin of 9.92% and a return on equity of 48.73%. The business's revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $9.97 EPS. As a group, analysts forecast that W.W. Grainger, Inc. will post 46.31 EPS for the current fiscal year.

W.W. Grainger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 9th will be given a dividend of $2.49 per share. This represents a $9.96 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, November 9th. W.W. Grainger's dividend payout ratio (DPR) is presently 25.40%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stephens lowered shares of W.W. Grainger from an "overweight" rating to an "equal weight" rating and set a $1,355.00 target price on the stock. in a report on Tuesday, July 14th. Wall Street Zen upgraded W.W. Grainger from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Oppenheimer lifted their price target on W.W. Grainger from $1,350.00 to $1,375.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Barclays decreased their price objective on W.W. Grainger from $1,185.00 to $1,172.00 and set an "underweight" rating for the company in a report on Friday, September 25th. Finally, Robert W. Baird increased their price objective on W.W. Grainger from $1,365.00 to $1,400.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $1,266.08.

W.W. Grainger Company Profile

W.W. Grainger, Inc is a distributor of maintenance, repair and operating (MRO) supplies for businesses, government agencies and other organizations. Its product offerings include safety equipment, tools, fasteners, electrical and plumbing supplies, material-handling equipment, cleaning and janitorial products, HVAC supplies, and facility-maintenance products.

The company also provides services designed to help customers manage procurement and workplace operations, including product selection support, inventory-management programs, digital purchasing tools, and technical assistance.

Want to see what other hedge funds are holding GWW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W.W. Grainger, Inc. (NYSE:GWW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.