Cannell Peter B & Co. Inc. Acquires New Holdings in W W Grainger Inc (GWW)

Share on StockTwits

Cannell Peter B & Co. Inc. acquired a new stake in W W Grainger Inc (NYSE:GWW) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 575 shares of the industrial products company’s stock, valued at approximately $206,000.

Several other large investors also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of W W Grainger by 94.6% in the second quarter. FMR LLC now owns 1,386,729 shares of the industrial products company’s stock valued at $427,667,000 after purchasing an additional 673,993 shares during the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in shares of W W Grainger by 32.5% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 759,809 shares of the industrial products company’s stock valued at $271,563,000 after purchasing an additional 186,332 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of W W Grainger by 21.0% in the third quarter. Bank of Montreal Can now owns 489,278 shares of the industrial products company’s stock valued at $174,874,000 after purchasing an additional 85,068 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of W W Grainger by 5.7% in the third quarter. Wells Fargo & Company MN now owns 480,107 shares of the industrial products company’s stock valued at $171,594,000 after purchasing an additional 25,922 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its holdings in shares of W W Grainger by 34,096.9% in the second quarter. Cornerstone Wealth Management LLC now owns 445,586 shares of the industrial products company’s stock valued at $1,454,000 after purchasing an additional 444,283 shares during the last quarter. Hedge funds and other institutional investors own 75.28% of the company’s stock.

In other news, Director Brian P. Anderson sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $360.18, for a total value of $360,180.00. Following the completion of the sale, the director now owns 4,040 shares of the company’s stock, valued at $1,455,127.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John L. Howard sold 14,990 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $368.20, for a total transaction of $5,519,318.00. Following the completion of the sale, the vice president now directly owns 58,207 shares of the company’s stock, valued at approximately $21,431,817.40. The disclosure for this sale can be found here. Insiders own 10.10% of the company’s stock.

Shares of W W Grainger stock opened at $293.75 on Friday. The stock has a market capitalization of $16.67 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 1.47 and a beta of 1.06. W W Grainger Inc has a 52-week low of $191.39 and a 52-week high of $372.06. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.44 and a quick ratio of 1.44.

W W Grainger (NYSE:GWW) last announced its earnings results on Tuesday, October 16th. The industrial products company reported $4.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.96 by $0.23. The company had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.84 billion. W W Grainger had a net margin of 6.51% and a return on equity of 45.22%. W W Grainger’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.79 earnings per share. As a group, analysts anticipate that W W Grainger Inc will post 16.29 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Monday, November 12th will be given a $1.36 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 1.85%. W W Grainger’s payout ratio is presently 47.47%.

Several research firms have commented on GWW. Macquarie upped their price objective on shares of W W Grainger from $314.00 to $358.00 and gave the company a “neutral” rating in a report on Wednesday, August 22nd. Oppenheimer upped their price objective on shares of W W Grainger from $380.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, August 23rd. UBS Group upped their price objective on shares of W W Grainger from $340.00 to $365.00 and gave the company a “hold” rating in a report on Thursday, August 30th. Royal Bank of Canada upped their price objective on shares of W W Grainger to $243.00 and gave the company an “underperform” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Finally, BMO Capital Markets upped their price objective on shares of W W Grainger from $267.00 to $330.00 and gave the company a “market perform” rating in a report on Thursday, July 19th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $308.43.

TRADEMARK VIOLATION NOTICE: “Cannell Peter B & Co. Inc. Acquires New Holdings in W W Grainger Inc (GWW)” was first posted by Week Herald and is owned by of Week Herald. If you are reading this report on another site, it was stolen and reposted in violation of US & international copyright law. The legal version of this report can be accessed at https://weekherald.com/2018/11/10/cannell-peter-b-co-inc-acquires-new-holdings-in-w-w-grainger-inc-gww.html.

About W W Grainger

W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) supplies; and other related products and services that are used by businesses and institutions in the United States, Canada, Europe, Asia, and Latin America. The company offers material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, metalworking tools, and various other products.

Recommended Story: Preferred Stock

Want to see what other hedge funds are holding GWW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W W Grainger Inc (NYSE:GWW).

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

Receive News & Ratings for W W Grainger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W W Grainger and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply