Allspring Global Investments Holdings LLC Increases Stake in W.W. Grainger, Inc. (NYSE:GWW)

Allspring Global Investments Holdings LLC boosted its position in shares of W.W. Grainger, Inc. (NYSE:GWW) by 1.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 4,511 shares of the industrial products company’s stock after purchasing an additional 56 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in W.W. Grainger were worth $4,589,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its holdings in shares of W.W. Grainger by 10.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 121 shares of the industrial products company’s stock valued at $124,000 after acquiring an additional 11 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of W.W. Grainger during the 1st quarter valued at about $356,000. BKM Wealth Management LLC boosted its holdings in shares of W.W. Grainger by 8.7% during the 1st quarter. BKM Wealth Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $1,221,000 after acquiring an additional 96 shares during the last quarter. Aviance Capital Partners LLC purchased a new stake in shares of W.W. Grainger during the 1st quarter valued at about $203,000. Finally, Cornerstone Wealth Group LLC purchased a new stake in shares of W.W. Grainger during the 1st quarter valued at about $208,000. 80.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Matt Fortin sold 511 shares of W.W. Grainger stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $915.20, for a total transaction of $467,667.20. Following the sale, the senior vice president now owns 1,848 shares in the company, valued at $1,691,289.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 9.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Loop Capital dropped their price target on shares of W.W. Grainger from $1,000.00 to $975.00 and set a “hold” rating on the stock in a report on Monday, April 29th. Robert W. Baird downgraded shares of W.W. Grainger from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $1,000.00 to $975.00 in a report on Wednesday, May 29th. Erste Group Bank reissued a “hold” rating on shares of W.W. Grainger in a report on Friday, June 14th. Oppenheimer raised their price objective on shares of W.W. Grainger from $1,075.00 to $1,125.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Finally, Baird R W downgraded shares of W.W. Grainger from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $959.44.

W.W. Grainger Stock Performance

NYSE GWW remained flat at $896.19 on Tuesday. 25,018 shares of the company’s stock were exchanged, compared to its average volume of 241,225. W.W. Grainger, Inc. has a 12 month low of $674.41 and a 12 month high of $1,034.18. The firm has a market cap of $43.98 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 1.77 and a beta of 1.17. The firm’s 50 day moving average price is $927.49 and its 200-day moving average price is $926.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.19 and a quick ratio of 1.33.

W.W. Grainger (NYSE:GWW) last released its quarterly earnings data on Thursday, April 25th. The industrial products company reported $9.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.57 by $0.05. The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.26 billion. W.W. Grainger had a net margin of 10.94% and a return on equity of 54.31%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $9.61 earnings per share. Sell-side analysts forecast that W.W. Grainger, Inc. will post 39.22 earnings per share for the current fiscal year.

W.W. Grainger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Monday, May 13th were given a dividend of $2.05 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $8.20 annualized dividend and a dividend yield of 0.91%. This is a boost from W.W. Grainger’s previous quarterly dividend of $1.86. W.W. Grainger’s dividend payout ratio (DPR) is presently 22.64%.

W.W. Grainger Profile

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.