Tokio Marine Asset Management Co. Ltd. decreased its stake in W.W. Grainger Inc. (NYSE:GWW) by 62.5% during the second quarter, Holdings Channel reports. The fund owned 2,109 shares of the company’s stock after selling 3,518 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in W.W. Grainger were worth $479,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of W.W. Grainger during the second quarter valued at about $205,000. Cypress Wealth Advisors LLC acquired a new position in shares of W.W. Grainger during the first quarter valued at about $225,000. Atria Investments LLC acquired a new position in shares of W.W. Grainger during the second quarter valued at about $239,000. Charter Trust Co. increased its position in shares of W.W. Grainger by 14.1% in the second quarter. Charter Trust Co. now owns 1,114 shares of the company’s stock valued at $254,000 after buying an additional 138 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of W.W. Grainger during the first quarter valued at about $257,000. 82.63% of the stock is currently owned by institutional investors.
W.W. Grainger Inc. (NYSE:GWW) traded down 1.61% during trading on Friday, hitting $224.41. 337,094 shares of the stock were exchanged. The stock’s 50-day moving average price is $225.45 and its 200-day moving average price is $226.47. W.W. Grainger Inc. has a 12-month low of $176.85 and a 12-month high of $239.95. The firm has a market cap of $13.56 billion, a PE ratio of 20.41 and a beta of 0.81.
W.W. Grainger (NYSE:GWW) last posted its quarterly earnings data on Tuesday, July 19th. The company reported $2.89 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by $0.28. W.W. Grainger had a net margin of 6.91% and a return on equity of 31.26%. The business had revenue of $2.60 million for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the business posted $3.27 EPS. On average, equities analysts expect that W.W. Grainger Inc. will post $11.54 EPS for the current year.
Several brokerages have recently weighed in on GWW. Zacks Investment Research downgraded shares of W.W. Grainger from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th. BMO Capital Markets lowered their target price on shares of W.W. Grainger from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, July 20th. Macquarie began coverage on shares of W.W. Grainger in a report on Thursday, August 25th. They issued an “outperform” rating and a $274.00 target price on the stock. Royal Bank Of Canada lowered their target price on shares of W.W. Grainger from $197.00 to $187.00 and set an “underperform” rating on the stock in a report on Wednesday, July 20th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of W.W. Grainger in a report on Sunday, September 4th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $228.75.
In other W.W. Grainger news, VP Joseph C. High sold 1,722 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $220.00, for a total value of $378,840.00. Following the completion of the transaction, the vice president now directly owns 7,531 shares in the company, valued at $1,656,820. The sale was disclosed in a filing with the SEC, which is accessible through this link. 9.60% of the stock is currently owned by company insiders.
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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