Kesler Norman & Wride LLC has reduced its holdings in W.W. Grainger, Inc. (NYSE:GWW) by 1.1% during the first quarter of 2024, as reported in its recent filing with the U.S. Securities and Exchange Commission (SEC). The firm now holds 1,717 shares of the industrial products company, following the sale of 19 shares during this period. As of the latest filing, the value of Kesler Norman & Wride LLC’s stake in W.W. Grainger stands at approximately $1.7 million.
Several other institutional investors and hedge funds have also adjusted their positions in W.W. Grainger. Notably, GAMMA Investing LLC significantly increased its stake by an extraordinary 100,843.0%, now owning 692,469 shares valued at $684 million after acquiring an additional 691,783 shares. Norges Bank established a new stake in W.W. Grainger during the fourth quarter, valued at $535.9 million. Proficio Capital Partners LLC and Invesco Ltd. also made moves, with Proficio acquiring a new position worth $175,000, while Invesco increased its holdings by 28.9%, now possessing 514,326 shares valued at $542.1 million. Northern Trust Corp raised its stake by 14.2%, now owning 681,912 shares valued at approximately $718.8 million. Collectively, institutional investors and hedge funds own around 80.7% of the company’s stock.
W.W. Grainger’s Market Performance
On Friday, W.W. Grainger shares opened at $1,049.50. The company maintains a market capitalization of $50.42 billion, with a debt-to-equity ratio of 0.59 and a P/E ratio of 26.94. The stock has fluctuated over the past year, reaching a low of $893.99 and a high of $1,227.66. The fifty-day moving average is currently $1,062.21, while the two-hundred-day moving average is $1,037.94.
W.W. Grainger has also recently increased its quarterly dividend. Shareholders received a dividend of $2.26 on June 1, 2024, for which the record date was May 12, 2024. This dividend reflects an annualized rate of $9.04 and a yield of 0.86%, marking an increase from the previous dividend of $2.05. The company’s dividend payout ratio stands at 23.21%.
Analyst Ratings and Insider Transactions
Recent analyst commentary on W.W. Grainger shares has varied. JPMorgan Chase & Co. raised its price target from $1,100.00 to $1,125.00 while maintaining a “neutral” rating. Conversely, Wolfe Research downgraded the shares to an “underperform” rating with a price target of $966.00. Royal Bank of Canada also increased its price objective from $1,097.00 to $1,144.00, giving the stock a “sector perform” rating. Currently, the consensus rating on the stock is “Hold,” with a price target averaging $1,123.13.
In insider trading news, Vice President Laurie R. Thomson sold 761 shares on May 6, 2024, at an average price of $1,042.86, totaling approximately $793,616. Following this transaction, she holds 578 shares valued at around $602,773, representing a 56.83% reduction in her ownership. Another vice president, Nancy L. Berardinelli, sold 280 shares on May 23, 2024, for a total of $301,056, resulting in a 7.67% decrease in her position. Insiders currently own 6.10% of W.W. Grainger’s stock.
W.W. Grainger, Inc. operates as a distributor of maintenance, repair, and operating products and services, primarily in North America, Japan, the United Kingdom, and other international markets. The company offers a wide range of products, including safety and security equipment, pumps, plumbing supplies, and hand tools, through its segments: High-Touch Solutions N.A. and Endless Assortment.
