W.W. Grainger Inc. (GWW) Announces Quarterly Earnings Results
W.W. Grainger Inc. (NYSE:GWW) posted its quarterly earnings results on Tuesday. The company reported $3.06 earnings per share for the quarter, topping the Thomson Reuters’ 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 company 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 stock has a market cap of $12.97 billion, a P/E ratio of 19.52 and a beta of 0.81.
In related news, VP Joseph C. High sold 1,722 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $220.00, for a total value of $378,840.00. Following the transaction, the vice president now owns 7,531 shares in the company, valued at $1,656,820. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is currently owned by corporate insiders.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of W.W. Grainger by 1.8% in the second quarter. BlackRock Inc. now owns 197,744 shares of the company’s stock valued at $44,937,000 after buying an additional 3,507 shares during the period. BlackRock Group LTD increased its stake in shares of W.W. Grainger by 0.9% in the second quarter. BlackRock Group LTD now owns 438,876 shares of the company’s stock valued at $99,735,000 after buying an additional 3,826 shares during the period. BlackRock Japan Co. Ltd increased its stake in shares of W.W. Grainger by 0.3% in the second quarter. BlackRock Japan Co. Ltd now owns 73,085 shares of the company’s stock valued at $16,609,000 after buying an additional 205 shares during the period. Bank of Nova Scotia increased its stake in shares of W.W. Grainger by 5.5% in the second quarter. Bank of Nova Scotia now owns 1,143 shares of the company’s stock valued at $260,000 after buying an additional 60 shares during the period. Finally, Columbia Partners L L C Investment Management increased its stake in shares of W.W. Grainger by 2.6% in the second quarter. Columbia Partners L L C Investment Management now owns 3,102 shares of the company’s stock valued at $704,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 82.56% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of W.W. Grainger from a “sell” rating to a “hold” rating in a research note on Tuesday, September 20th. RBC Capital Markets reissued an “underperform” rating and issued a $211.00 price target on shares of W.W. Grainger in a research note on Monday, September 19th. Wells Fargo & Co. reissued a “hold” rating on shares of W.W. Grainger in a research note on Sunday, September 4th. Macquarie assumed coverage on shares of W.W. Grainger in a research note on Thursday, August 25th. They issued an “outperform” rating and a $274.00 price target on the stock. Finally, BMO Capital Markets decreased their price target on shares of W.W. Grainger from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Six equities 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. W.W. Grainger currently has an average rating of “Hold” and an average target price of $228.75.
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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