W.W. Grainger, Inc. (NYSE:GWW) Shares Sold by Skandinaviska Enskilda Banken AB publ

Key Points

• Skandinaviska Enskilda Banken AB reduced its stake in W.W. Grainger by 2.2%, selling 3,148 shares during the first quarter, now owning approximately 0.7% of the company.
• W.W. Grainger's quarterly earnings exceeded expectations with an EPS of $9.86, compared to a consensus estimate of $9.51, while revenue rose by 1.7% year-over-year.
• The company increased its quarterly dividend from $2.05 to $2.26, reflecting a positive change and providing a dividend yield of 0.86%.

Skandinaviska Enskilda Banken AB publ lowered its stake in W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 136,899 shares of the industrial products company's stock after selling 3,148 shares during the quarter. W.W. Grainger comprises about 0.7% of Skandinaviska Enskilda Banken AB publ's portfolio, making the stock its 27th biggest holding. Skandinaviska Enskilda Banken AB publ owned about 0.28% of W.W. Grainger worth $135,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new position in W.W. Grainger during the 4th quarter worth $35,000. Cornerstone Planning Group LLC grew its position in W.W. Grainger by 34.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 47 shares of the industrial products company's stock valued at $47,000 after buying an additional 12 shares during the last quarter. Quarry LP purchased a new stake in W.W. Grainger in the 4th quarter valued at approximately $54,000. Columbia River Financial Group LLC acquired a new position in W.W. Grainger during the 1st quarter worth approximately $65,000. Finally, Reyes Financial Architecture Inc. raised its stake in shares of W.W. Grainger by 22.4% during the 1st quarter. Reyes Financial Architecture Inc. now owns 93 shares of the industrial products company's stock worth $92,000 after buying an additional 17 shares in the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Laurie R. Thomson sold 761 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $1,042.86, for a total transaction of $793,616.46. Following the completion of the sale, the vice president owned 578 shares of the company's stock, valued at approximately $602,773.08. This represents a 56.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Krantz Nancy L. Berardinelli sold 280 shares of W.W. Grainger stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $1,075.20, for a total transaction of $301,056.00. Following the transaction, the vice president directly owned 3,369 shares in the company, valued at approximately $3,622,348.80. This trade represents a 7.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

W.W. Grainger Price Performance

GWW traded up $1.72 during midday trading on Friday, reaching $1,053.93. 241,362 shares of the company's stock were exchanged, compared to its average volume of 324,981. W.W. Grainger, Inc. has a 1-year low of $893.99 and a 1-year high of $1,227.66. The stock has a market capitalization of $50.63 billion, a PE ratio of 27.06, a P/E/G ratio of 2.76 and a beta of 1.18. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.74 and a quick ratio of 1.60. The business's 50-day moving average price is $1,057.48 and its 200 day moving average price is $1,035.94.

W.W. Grainger (NYSE:GWW - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $9.86 earnings per share for the quarter, topping analysts' consensus estimates of $9.51 by $0.35. The company had revenue of $4.31 billion during the quarter, compared to analysts' expectations of $4.31 billion. W.W. Grainger had a return on equity of 51.28% and a net margin of 11.08%. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.62 earnings per share. As a group, equities analysts anticipate that W.W. Grainger, Inc. will post 40.3 EPS for the current fiscal year.

W.W. Grainger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Monday, May 12th were given a dividend of $2.26 per share. The ex-dividend date of this dividend was Monday, May 12th. This is an increase from W.W. Grainger's previous quarterly dividend of $2.05. This represents a $9.04 annualized dividend and a yield of 0.86%. W.W. Grainger's dividend payout ratio is 23.21%.

Analyst Ratings Changes

A number of analysts recently weighed in on GWW shares. Morgan Stanley decreased their price target on W.W. Grainger from $1,215.00 to $1,160.00 and set an "equal weight" rating on the stock in a research note on Friday, July 11th. Wolfe Research cut shares of W.W. Grainger from a "peer perform" rating to an "underperform" rating and set a $966.00 price target on the stock. in a research note on Thursday, April 3rd. Royal Bank Of Canada raised their price objective on shares of W.W. Grainger from $1,097.00 to $1,144.00 and gave the company a "sector perform" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of W.W. Grainger from $1,100.00 to $1,125.00 and gave the stock a "neutral" rating in a report on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, W.W. Grainger has a consensus rating of "Hold" and an average target price of $1,116.25.

W.W. Grainger 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.