W.W. Grainger Inc. (GWW) Announces Quarterly Earnings Results
W.W. Grainger Inc. (NYSE:GWW) announced its quarterly earnings results on Tuesday. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $2.99 by $0.07. W.W. Grainger had a net margin of 6.91% and a return on equity of 31.26%.
W.W. Grainger (NYSE:GWW) opened at 214.58 on Tuesday. The firm has a 50-day moving average of $222.96 and a 200-day moving average of $225.86. W.W. Grainger has a 52 week low of $176.85 and a 52 week high of $239.95. The company has a market capitalization of $12.97 billion, a P/E ratio of 19.52 and a beta of 0.81.
Several analysts have commented on GWW shares. Zacks Investment Research upgraded shares of W.W. Grainger from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. RBC Capital Markets restated an “underperform” rating and issued a $211.00 target price on shares of W.W. Grainger in a report on Monday, September 19th. Macquarie initiated coverage on shares of W.W. Grainger in a report on Thursday, August 25th. They issued an “outperform” rating and a $274.00 target price on the stock. Royal Bank Of Canada reduced their target price on shares of W.W. Grainger from $197.00 to $187.00 and set an “underperform” rating on the stock in a report on Wednesday, July 20th. Finally, Barclays PLC boosted their target price on shares of W.W. Grainger from $209.00 to $213.00 and gave the stock an “equal weight” rating in a report on Monday, July 18th. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $228.75.
In other W.W. Grainger news, VP Joseph C. High sold 1,722 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $220.00, for a total transaction of $378,840.00. Following the transaction, the vice president now directly owns 7,531 shares of the company’s stock, valued at $1,656,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 9.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its position in W.W. Grainger by 34.5% in the second quarter. Mackenzie Financial Corp now owns 759,733 shares of the company’s stock valued at $172,649,000 after buying an additional 195,054 shares during the last quarter. WBI Investments Inc. acquired a new position in W.W. Grainger during the second quarter valued at $17,348,000. Janus Capital Management LLC increased its position in W.W. Grainger by 109.2% in the second quarter. Janus Capital Management LLC now owns 74,430 shares of the company’s stock valued at $16,914,000 after buying an additional 38,850 shares in the last quarter. Guggenheim Capital LLC increased its position in W.W. Grainger by 32.1% in the second quarter. Guggenheim Capital LLC now owns 158,309 shares of the company’s stock valued at $35,976,000 after buying an additional 38,480 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC increased its position in W.W. Grainger by 764.2% in the second quarter. Pinkerton Retirement Specialists LLC now owns 38,726 shares of the company’s stock valued at $881,000 after buying an additional 34,245 shares in the last quarter. 82.56% of the stock is currently owned by institutional investors and hedge funds.
W.W. Grainger Company Profile
W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.
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