Norges Bank Makes New $535.91 Million Investment in W.W. Grainger, Inc. (NYSE:GWW)

Norges Bank bought a new stake in W.W. Grainger, Inc. (NYSE:GWW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 508,429 shares of the industrial products company’s stock, valued at approximately $535,910,000. Norges Bank owned about 1.04% of W.W. Grainger at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kingsview Wealth Management LLC acquired a new position in W.W. Grainger in the third quarter worth $294,000. Larson Financial Group LLC lifted its position in W.W. Grainger by 111.1% during the 3rd quarter. Larson Financial Group LLC now owns 38 shares of the industrial products company’s stock worth $40,000 after buying an additional 20 shares in the last quarter. Fisher Asset Management LLC bought a new stake in W.W. Grainger during the 3rd quarter worth about $231,000. Dynamic Technology Lab Private Ltd acquired a new stake in W.W. Grainger in the 3rd quarter valued at about $381,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of W.W. Grainger by 0.3% in the third quarter. The Manufacturers Life Insurance Company now owns 26,877 shares of the industrial products company’s stock worth $27,920,000 after acquiring an additional 68 shares during the last quarter. 80.70% of the stock is owned by institutional investors and hedge funds.

W.W. Grainger Stock Down 1.4 %

W.W. Grainger stock opened at $973.54 on Friday. The firm has a market capitalization of $46.94 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 2.70 and a beta of 1.18. The company’s 50 day simple moving average is $1,027.35 and its 200 day simple moving average is $1,076.43. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.49 and a quick ratio of 1.49. W.W. Grainger, Inc. has a fifty-two week low of $874.98 and a fifty-two week high of $1,227.66.

W.W. Grainger (NYSE:GWW) last announced its quarterly earnings results on Friday, January 31st. The industrial products company reported $9.71 earnings per share for the quarter, missing analysts’ consensus estimates of $9.75 by ($0.04). W.W. Grainger had a return on equity of 52.43% and a net margin of 11.12%. During the same quarter in the prior year, the firm earned $8.33 EPS. As a group, sell-side analysts anticipate that W.W. Grainger, Inc. will post 40.3 EPS for the current year.

W.W. Grainger Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Monday, February 10th were given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Monday, February 10th. W.W. Grainger’s dividend payout ratio is currently 21.18%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GWW. StockNews.com lowered shares of W.W. Grainger from a “buy” rating to a “hold” rating in a report on Thursday, December 19th. Royal Bank of Canada lowered their target price on W.W. Grainger from $1,113.00 to $1,112.00 and set a “sector perform” rating for the company in a research note on Monday, February 3rd. William Blair raised W.W. Grainger from a “market perform” rating to an “outperform” rating in a research note on Monday, March 10th. Finally, JPMorgan Chase & Co. lowered their price objective on W.W. Grainger from $1,125.00 to $1,100.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $1,151.50.

W.W. Grainger 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.