Pinebridge Investments L.P. Trims Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

Pinebridge Investments L.P. cut its holdings in W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 72.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,406 shares of the industrial products company's stock after selling 21,897 shares during the quarter. Pinebridge Investments L.P.'s holdings in W.W. Grainger were worth $8,860,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Cyrus J. Lawrence LLC purchased a new position in shares of W.W. Grainger in the fourth quarter worth about $31,000. Iron Horse Wealth Management LLC lifted its stake in W.W. Grainger by 43.5% during the 4th quarter. Iron Horse Wealth Management LLC now owns 33 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 10 shares during the period. AlphaMark Advisors LLC purchased a new stake in shares of W.W. Grainger in the 4th quarter valued at $37,000. OFI Invest Asset Management acquired a new stake in shares of W.W. Grainger in the fourth quarter worth $42,000. Finally, Atala Financial Inc purchased a new position in shares of W.W. Grainger during the fourth quarter worth $43,000. Institutional investors and hedge funds own 80.70% of the company's stock.

W.W. Grainger Price Performance

GWW traded down $0.02 during midday trading on Wednesday, hitting $1,012.70. 87,260 shares of the company traded hands, compared to its average volume of 251,929. The business has a 50 day simple moving average of $985.87 and a two-hundred day simple moving average of $1,069.15. W.W. Grainger, Inc. has a 52-week low of $874.98 and a 52-week high of $1,227.66. The company has a market capitalization of $48.83 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 2.70 and a beta of 1.20. The company has a current ratio of 2.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.62.

W.W. Grainger (NYSE:GWW - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The industrial products company reported $9.71 earnings per share for the quarter, missing analysts' consensus estimates 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 business earned $8.33 earnings per share. On average, equities analysts forecast that W.W. Grainger, Inc. will post 40.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GWW has been the topic of several analyst reports. Royal Bank of Canada cut their price target on W.W. Grainger from $1,113.00 to $1,112.00 and set a "sector perform" rating on the stock in a research report on Monday, February 3rd. William Blair raised W.W. Grainger from a "market perform" rating to an "outperform" rating in a report on Monday, March 10th. JPMorgan Chase & Co. dropped their price objective on shares of W.W. Grainger from $1,125.00 to $1,100.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. Finally, Wolfe Research cut shares of W.W. Grainger from a "peer perform" rating to an "underperform" rating and set a $966.00 target price for the company. in a research note on Thursday, April 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $1,116.00.

Insider Transactions at W.W. Grainger

In other W.W. Grainger news, CFO Deidra C. Merriwether sold 1,164 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $997.12, for a total value 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 trade 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. Corporate insiders own 6.10% of the company's stock.

About W.W. Grainger

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.