Bowling Portfolio Management LLC Acquires New Stake in W W Grainger Inc (NYSE:GWW)
Bowling Portfolio Management LLC acquired a new stake in W W Grainger Inc (NYSE:GWW) in the third quarter, Holdings Channel reports. The firm acquired 2,766 shares of the industrial products company’s stock, valued at approximately $987,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. AXA increased its holdings in W W Grainger by 77.0% in the first quarter. AXA now owns 35,798 shares of the industrial products company’s stock valued at $8,896,000 after purchasing an additional 15,573 shares during the period. Welch & Forbes LLC acquired a new stake in W W Grainger in the second quarter valued at $256,000. Duality Advisers LP acquired a new stake in W W Grainger in the second quarter valued at $995,000. Bessemer Group Inc. increased its holdings in W W Grainger by 1,643.1% in the second quarter. Bessemer Group Inc. now owns 3,434 shares of the industrial products company’s stock valued at $1,078,000 after purchasing an additional 3,237 shares during the period. Finally, Atria Investments LLC acquired a new stake in W W Grainger in the second quarter valued at $1,611,000. Institutional investors and hedge funds own 72.27% of the company’s stock.
In related news, VP John L. Howard sold 2,679 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $342.98, for a total value of $918,843.42. Following the transaction, the vice president now owns 42,246 shares of the company’s stock, valued at approximately $14,489,533.08. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Donald G. Macpherson sold 14,909 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $356.05, for a total transaction of $5,308,349.45. Following the completion of the transaction, the chief executive officer now directly owns 69,394 shares in the company, valued at approximately $24,707,733.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,378 shares of company stock worth $30,634,680. 13.97% of the stock is owned by insiders.
W W Grainger (NYSE:GWW) last announced its quarterly earnings results on Thursday, July 23rd. The industrial products company reported $3.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.39 by $0.36. W W Grainger had a net margin of 5.34% and a return on equity of 42.19%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the firm earned $4.64 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. Analysts expect that W W Grainger Inc will post 15.83 EPS for the current fiscal year.
A number of analysts recently weighed in on GWW shares. Raymond James upgraded W W Grainger from a “market perform” rating to an “outperform” rating and set a $390.00 price objective for the company in a report on Tuesday, September 8th. UBS Group assumed coverage on W W Grainger in a report on Tuesday, September 15th. They set a “buy” rating and a $416.00 price target for the company. Stephens assumed coverage on W W Grainger in a report on Thursday. They set an “equal weight” rating for the company. Gordon Haskett upgraded W W Grainger from an “underperform” rating to a “hold” rating and set a $295.00 price target for the company in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their price target on W W Grainger from $270.00 to $291.00 and gave the stock a “neutral” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $349.86.
W W Grainger Company Profile
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Canada, Europe, Japan, Mexico, and internationally. The company provides material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, and metalworking tools, as well as gloves, ladders, motors, and janitorial supplies.
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