RBC Capital Markets Reaffirms “Underperform” Rating for W.W. Grainger Inc. (GWW)
RBC Capital Markets reissued their underperform rating on shares of W.W. Grainger Inc. (NYSE:GWW) in a research note released on Monday. RBC Capital Markets currently has a $211.00 price target on the stock.
Several other brokerages have also recently issued reports on GWW. Wells Fargo & Co. restated a hold rating on shares of W.W. Grainger in a report on Sunday, September 4th. Zacks Investment Research cut shares of W.W. Grainger from a hold rating to a sell rating in a report on Tuesday, July 12th. BMO Capital Markets lowered their target price on shares of W.W. Grainger from $300.00 to $270.00 and set a buy rating for the company in a report on Wednesday, July 20th. Barclays PLC upped their target price on shares of W.W. Grainger from $209.00 to $213.00 and gave the company an equal weight rating in a report on Monday, July 18th. Finally, Credit Suisse Group AG initiated coverage on shares of W.W. Grainger in a report on Friday, June 17th. They issued a neutral rating and a $222.00 target price for the company. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $228.75.
Shares of W.W. Grainger (NYSE:GWW) opened at 218.42 on Monday. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of 19.87 and a beta of 0.77. The company’s 50-day moving average is $226.50 and its 200 day moving average is $226.49. W.W. Grainger has a 52-week low of $176.85 and a 52-week high of $239.95.
W.W. Grainger (NYSE:GWW) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $2.89 EPS for the quarter, missing the consensus estimate of $3.17 by $0.28. W.W. Grainger had a return on equity of 31.26% and a net margin of 6.91%. The firm had revenue of $2.60 million for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned $3.27 EPS. On average, analysts expect that W.W. Grainger will post $11.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 8th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 2.23%. W.W. Grainger’s dividend payout ratio is currently 44.40%.
In other news, VP Joseph C. High sold 1,722 shares of W.W. Grainger stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $220.00, for a total transaction of $378,840.00. Following the sale, 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 the SEC website. Insiders own 9.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp raised its stake in W.W. Grainger by 31.8% in the second quarter. Van ECK Associates Corp now owns 601 shares of the company’s stock worth $137,000 after buying an additional 145 shares in the last quarter. CENTRAL TRUST Co raised its stake in W.W. Grainger by 5.1% in the second quarter. CENTRAL TRUST Co now owns 832 shares of the company’s stock worth $189,000 after buying an additional 40 shares in the last quarter. Evercore Wealth Management LLC raised its stake in W.W. Grainger by 4.4% in the second quarter. Evercore Wealth Management LLC now owns 861 shares of the company’s stock worth $195,000 after buying an additional 36 shares in the last quarter. Ingalls & Snyder LLC purchased a new stake in W.W. Grainger during the second quarter worth about $200,000. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in W.W. Grainger during the second quarter worth about $205,000. Institutional investors own 82.63% of the company’s stock.
W.W. Grainger Company Profile
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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