Envestnet Portfolio Solutions Inc. Sells 407 Shares of W.W. Grainger, Inc. (NYSE:GWW)

Envestnet Portfolio Solutions Inc. reduced its position in W.W. Grainger, Inc. (NYSE:GWW) by 9.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,971 shares of the industrial products company’s stock after selling 407 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in W.W. Grainger were worth $3,583,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in GWW. Clearbridge Investments LLC raised its holdings in W.W. Grainger by 17.4% in the first quarter. Clearbridge Investments LLC now owns 1,148,051 shares of the industrial products company’s stock worth $1,167,913,000 after purchasing an additional 169,897 shares in the last quarter. Franklin Resources Inc. raised its holdings in W.W. Grainger by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 689,090 shares of the industrial products company’s stock worth $571,042,000 after purchasing an additional 11,460 shares in the last quarter. Norges Bank bought a new position in W.W. Grainger in the fourth quarter worth about $392,470,000. Dimensional Fund Advisors LP raised its holdings in W.W. Grainger by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 440,860 shares of the industrial products company’s stock worth $365,334,000 after purchasing an additional 10,940 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in W.W. Grainger by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 265,103 shares of the industrial products company’s stock worth $219,688,000 after purchasing an additional 4,893 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors.

Insider Buying and Selling at W.W. Grainger

In other W.W. Grainger news, SVP Matt Fortin sold 511 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $915.20, for a total value of $467,667.20. Following the completion of the transaction, the senior vice president now owns 1,848 shares of the company’s stock, valued at approximately $1,691,289.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 9.50% of the stock is currently owned by corporate insiders.

W.W. Grainger Price Performance

GWW traded up $12.04 during midday trading on Thursday, hitting $964.74. 111,522 shares of the company traded hands, compared to its average volume of 245,249. The business has a 50 day simple moving average of $932.22 and a two-hundred day simple moving average of $950.32. W.W. Grainger, Inc. has a 52-week low of $674.41 and a 52-week high of $1,034.18. The company has a market capitalization of $47.34 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.85 and a beta of 1.17. The company has a current ratio of 2.30, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50.

W.W. Grainger (NYSE:GWW) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $9.76 earnings per share for the quarter, beating analysts’ consensus estimates of $9.58 by $0.18. The firm had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.35 billion. W.W. Grainger had a net margin of 10.86% and a return on equity of 53.25%. W.W. Grainger’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $9.28 EPS. On average, equities analysts forecast that W.W. Grainger, Inc. will post 39.1 earnings per share for the current fiscal year.

W.W. Grainger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Monday, August 12th will be issued a dividend of $2.05 per share. The ex-dividend date of this dividend is Monday, August 12th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.85%. W.W. Grainger’s dividend payout ratio is currently 22.64%.

Wall Street Analysts Forecast Growth

GWW has been the topic of several recent analyst reports. Robert W. Baird downgraded shares of W.W. Grainger from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $1,000.00 to $975.00 in a report on Wednesday, May 29th. JPMorgan Chase & Co. upped their target price on W.W. Grainger from $1,000.00 to $1,015.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Loop Capital dropped their target price on W.W. Grainger from $1,000.00 to $975.00 and set a “hold” rating on the stock in a research report on Monday, April 29th. Erste Group Bank reiterated a “hold” rating on shares of W.W. Grainger in a research report on Friday, June 14th. Finally, Baird R W lowered W.W. Grainger from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, W.W. Grainger presently has an average rating of “Hold” and a consensus price target of $1,017.13.

W.W. Grainger Company Profile

W.W. Grainger, Inc, together with its subsidiaries, distributes maintenance, repair, and operating products and services primarily in North America, Japan, the United Kingdom, and internationally. The company operates through two segments, High-Touch Solutions N.A. and Endless Assortment. The company provides safety, security, material handling and storage equipment, pumps and plumbing equipment, cleaning and maintenance, and metalworking and hand tools.