CIBC Asset Management Inc Trims Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

CIBC Asset Management Inc reduced its stake in W.W. Grainger, Inc. (NYSE:GWWFree Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,105 shares of the industrial products company’s stock after selling 306 shares during the quarter. CIBC Asset Management Inc’s holdings in W.W. Grainger were worth $5,059,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Turtle Creek Wealth Advisors LLC purchased a new position in W.W. Grainger in the 4th quarter valued at $30,000. Valley National Advisers Inc. acquired a new position in shares of W.W. Grainger during the fourth quarter worth about $40,000. McGlone Suttner Wealth Management Inc. purchased a new position in W.W. Grainger during the fourth quarter worth about $45,000. Friedenthal Financial acquired a new stake in W.W. Grainger in the fourth quarter valued at about $45,000. Finally, CVA Family Office LLC acquired a new position in W.W. Grainger during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

W.W. Grainger Price Performance

Shares of W.W. Grainger stock opened at $890.69 on Thursday. The business’s fifty day moving average price is $957.08 and its 200 day moving average price is $913.22. W.W. Grainger, Inc. has a twelve month low of $661.01 and a twelve month high of $1,034.18. The company has a current ratio of 2.19, a quick ratio of 1.33 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $43.71 billion, a P/E ratio of 24.59, a PEG ratio of 1.73 and a beta of 1.16.

W.W. Grainger (NYSE:GWWGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $9.62 earnings per share for the quarter, beating the consensus estimate of $9.57 by $0.05. The business had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.26 billion. W.W. Grainger had a return on equity of 54.31% and a net margin of 10.94%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted $9.61 EPS. As a group, research analysts anticipate that W.W. Grainger, Inc. will post 39.34 earnings per share for the current year.

W.W. Grainger Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Monday, May 13th were given a $2.05 dividend. The ex-dividend date was Friday, May 10th. This represents a $8.20 annualized dividend and a dividend yield of 0.92%. This is a positive change from W.W. Grainger’s previous quarterly dividend of $1.86. W.W. Grainger’s dividend payout ratio is presently 22.64%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GWW. Baird R W downgraded W.W. Grainger from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Loop Capital cut their price target on W.W. Grainger from $1,000.00 to $975.00 and set a “hold” rating for the company in a report on Monday, April 29th. UBS Group boosted their price objective on shares of W.W. Grainger from $740.00 to $1,000.00 and gave the company a “neutral” rating in a research report on Thursday, March 14th. cut shares of W.W. Grainger from a “buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Stephens raised W.W. Grainger from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $1,000.00 to $1,250.00 in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $959.44.

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W.W. Grainger Profile

(Free Report)

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.

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Institutional Ownership by Quarter for W.W. Grainger (NYSE:GWW)

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