Confluence Investment Management LLC raised its position in shares of W.W. Grainger, Inc. (NYSE:GWW) by 8.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,589 shares of the industrial products company’s stock after buying an additional 4,349 shares during the period. Confluence Investment Management LLC owned about 0.09% of W.W. Grainger worth $9,674,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Creative Planning increased its position in shares of W.W. Grainger by 1.1% in the first quarter. Creative Planning now owns 6,885 shares of the industrial products company’s stock worth $1,603,000 after buying an additional 76 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of W.W. Grainger by 8.3% in the first quarter. Raymond James Trust N.A. now owns 3,238 shares of the industrial products company’s stock worth $754,000 after buying an additional 249 shares in the last quarter. Hills Bank & Trust Co. acquired a new position in shares of W.W. Grainger during the first quarter worth about $274,000. Acropolis Investment Management LLC increased its position in shares of W.W. Grainger by 4.9% in the first quarter. Acropolis Investment Management LLC now owns 3,644 shares of the industrial products company’s stock worth $848,000 after buying an additional 169 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of W.W. Grainger by 1.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 46,664 shares of the industrial products company’s stock worth $10,861,000 after buying an additional 867 shares in the last quarter. 79.87% of the stock is currently owned by institutional investors.
Shares of W.W. Grainger, Inc. (GWW) opened at 176.42 on Wednesday. W.W. Grainger, Inc. has a one year low of $168.58 and a one year high of $262.71. The firm’s 50-day moving average price is $176.17 and its 200-day moving average price is $219.41. The company has a market capitalization of $10.30 billion, a price-to-earnings ratio of 18.01 and a beta of 0.76.
W.W. Grainger (NYSE:GWW) last released its earnings results on Tuesday, April 18th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.99 by $0.11. W.W. Grainger had a net margin of 5.84% and a return on equity of 33.24%. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the business posted $3.18 earnings per share. W.W. Grainger’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts anticipate that W.W. Grainger, Inc. will post $10.38 earnings per share for the current year.
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A number of research analysts have recently issued reports on the company. BMO Capital Markets downgraded W.W. Grainger from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $290.00 to $255.00 in a research note on Thursday, March 30th. Royal Bank Of Canada reaffirmed a “sell” rating and set a $209.00 price target on shares of W.W. Grainger in a research note on Tuesday, April 11th. Credit Suisse Group downgraded W.W. Grainger from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $235.00 to $175.00 in a research note on Wednesday, April 19th. Stephens set a $190.00 price target on W.W. Grainger and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Finally, Zacks Investment Research downgraded W.W. Grainger from a “hold” rating to a “strong sell” rating in a research note on Friday, April 21st. Six equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $189.60.
About W.W. Grainger
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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