Veritable L.P. Has $3.14 Million Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

Veritable L.P. lessened its position in W.W. Grainger, Inc. (NYSE:GWW) by 5.7% in the second quarter, HoldingsChannel reports. The fund owned 3,985 shares of the industrial products company’s stock after selling 240 shares during the quarter. Veritable L.P.’s holdings in W.W. Grainger were worth $3,143,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in W.W. Grainger by 565.7% during the 1st quarter. Pacer Advisors Inc. now owns 3,222 shares of the industrial products company’s stock valued at $2,219,000 after purchasing an additional 2,738 shares in the last quarter. State of Michigan Retirement System lifted its position in W.W. Grainger by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 14,017 shares of the industrial products company’s stock valued at $9,655,000 after acquiring an additional 100 shares in the last quarter. Toroso Investments LLC boosted its stake in W.W. Grainger by 64.2% during the 1st quarter. Toroso Investments LLC now owns 1,977 shares of the industrial products company’s stock valued at $1,362,000 after purchasing an additional 773 shares during the last quarter. Global Retirement Partners LLC increased its holdings in W.W. Grainger by 5.6% during the 1st quarter. Global Retirement Partners LLC now owns 338 shares of the industrial products company’s stock worth $231,000 after purchasing an additional 18 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of W.W. Grainger in the first quarter worth approximately $211,000. Institutional investors own 71.24% of the company’s stock.

Insider Buying and Selling

In other W.W. Grainger news, SVP Matt Fortin sold 3,439 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $735.85, for a total value of $2,530,588.15. Following the completion of the transaction, the senior vice president now directly owns 2,462 shares of the company’s stock, valued at approximately $1,811,662.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.90% of the stock is currently owned by insiders.

W.W. Grainger Price Performance

Shares of NYSE GWW opened at $801.63 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.69 and a current ratio of 2.85. W.W. Grainger, Inc. has a fifty-two week low of $534.01 and a fifty-two week high of $811.60. The stock has a market cap of $39.78 billion, a PE ratio of 22.35, a price-to-earnings-growth ratio of 1.67 and a beta of 1.13. The stock has a fifty day moving average of $715.72 and a 200-day moving average of $717.52.

W.W. Grainger (NYSE:GWW) last issued its earnings results on Thursday, October 26th. The industrial products company reported $9.43 EPS for the quarter, topping the consensus estimate of $8.85 by $0.58. W.W. Grainger had a return on equity of 58.02% and a net margin of 11.16%. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the company earned $8.27 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts anticipate that W.W. Grainger, Inc. will post 36.38 earnings per share for the current year.

W.W. Grainger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be issued a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, November 10th. W.W. Grainger’s dividend payout ratio (DPR) is presently 20.75%.

Analyst Ratings Changes

GWW has been the subject of several research analyst reports. Robert W. Baird decreased their price target on shares of W.W. Grainger from $795.00 to $790.00 in a research note on Friday, July 28th. UBS Group decreased their target price on W.W. Grainger from $820.00 to $750.00 and set a “neutral” rating for the company in a research report on Monday, August 28th. Morgan Stanley upped their price target on W.W. Grainger from $647.00 to $653.00 and gave the company an “underweight” rating in a research report on Friday, July 28th. Stephens reissued an “equal weight” rating and issued a $775.00 price objective on shares of W.W. Grainger in a report on Friday, August 18th. Finally, StockNews.com initiated coverage on W.W. Grainger in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, W.W. Grainger has an average rating of “Hold” and a consensus target price of $734.63.

W.W. Grainger Company Profile

W.W. Grainger, Inc distributes maintenance, repair, and operating products and services in the United States, Japan, Canada, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. The company provides safety and security supplies, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance supplies, and metalworking and hand tools.