W.W. Grainger Inc. (GWW) Issues Quarterly Earnings Results
W.W. Grainger Inc. (NYSE:GWW) issued its quarterly earnings results on Tuesday. The company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.07. W.W. Grainger had a return on equity of 31.26% and a net margin of 6.91%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the prior year, the firm posted $3.03 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. W.W. Grainger updated its FY16 guidance to $11.40-$11.70 EPS.
Shares of W.W. Grainger (NYSE:GWW) opened at 205.86 on Wednesday. The stock has a market capitalization of $12.44 billion, a price-to-earnings ratio of 18.72 and a beta of 0.81. The firm has a 50-day moving average of $222.13 and a 200 day moving average of $225.65. W.W. Grainger has a one year low of $176.85 and a one year high of $239.95.
In other news, VP Joseph C. High sold 1,722 shares of the business’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 sale, the vice president now directly owns 7,531 shares in the company, valued at approximately $1,656,820. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.60% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Somerset Trust Co increased its stake in W.W. Grainger by 3.5% in the third quarter. Somerset Trust Co now owns 3,099 shares of the company’s stock worth $697,000 after buying an additional 104 shares during the period. BTIM Corp. increased its stake in W.W. Grainger by 0.6% in the third quarter. BTIM Corp. now owns 319,414 shares of the company’s stock worth $71,817,000 after buying an additional 1,816 shares during the period. National Pension Service increased its stake in W.W. Grainger by 9.3% in the third quarter. National Pension Service now owns 44,202 shares of the company’s stock worth $9,938,000 after buying an additional 3,767 shares during the period. Private Bank & Trust Co. increased its stake in W.W. Grainger by 12.6% in the third quarter. Private Bank & Trust Co. now owns 2,062 shares of the company’s stock worth $464,000 after buying an additional 230 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in W.W. Grainger by 1.8% in the third quarter. Gulf International Bank UK Ltd now owns 16,936 shares of the company’s stock worth $3,807,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 82.56% of the company’s stock.
Several equities analysts have recently issued reports on GWW shares. Zacks Investment Research lowered W.W. Grainger from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. Barclays PLC upped their price target on W.W. Grainger from $209.00 to $213.00 and gave the company an “equal weight” rating in a research note on Monday, July 18th. Royal Bank Of Canada cut their price target on W.W. Grainger from $197.00 to $187.00 and set an “underperform” rating on the stock in a research note on Wednesday, July 20th. BMO Capital Markets cut their price target on 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. Finally, RBC Capital Markets reaffirmed an “underperform” rating and set a $187.00 price target (down previously from $197.00) on shares of W.W. Grainger in a research note on Wednesday, July 20th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. W.W. Grainger currently has an average rating of “Hold” and a consensus price target of $228.75.
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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