Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in W.W. Grainger, Inc. (NYSE:GWW)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of W.W. Grainger, Inc. (NYSE:GWW) by 250.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,828 shares of the industrial products company’s stock after acquiring an additional 2,022 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in W.W. Grainger were worth $2,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in W.W. Grainger by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 360,026 shares of the industrial products company’s stock worth $324,841,000 after buying an additional 17,699 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of W.W. Grainger during the 2nd quarter worth approximately $281,104,000. Hsbc Holdings PLC raised its holdings in shares of W.W. Grainger by 0.8% in the 2nd quarter. Hsbc Holdings PLC now owns 243,470 shares of the industrial products company’s stock worth $219,386,000 after purchasing an additional 1,849 shares during the period. Swedbank AB lifted its stake in W.W. Grainger by 23.5% in the third quarter. Swedbank AB now owns 193,888 shares of the industrial products company’s stock valued at $201,413,000 after purchasing an additional 36,892 shares during the last quarter. Finally, abrdn plc grew its holdings in W.W. Grainger by 2.4% during the third quarter. abrdn plc now owns 171,576 shares of the industrial products company’s stock valued at $178,172,000 after purchasing an additional 4,014 shares during the period. 80.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GWW has been the topic of several research reports. StockNews.com upgraded W.W. Grainger from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Baird R W raised shares of W.W. Grainger from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Wolfe Research upgraded shares of W.W. Grainger to a “hold” rating in a research note on Sunday, September 22nd. Northcoast Research assumed coverage on shares of W.W. Grainger in a research report on Tuesday, October 29th. They issued a “neutral” rating on the stock. Finally, UBS Group started coverage on shares of W.W. Grainger in a report on Wednesday, November 13th. They issued a “neutral” rating and a $1,280.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $1,109.00.

Insiders Place Their Bets

In other news, CFO Deidra C. Merriwether sold 704 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $1,105.59, for a total value of $778,335.36. Following the completion of the sale, the chief financial officer now owns 9,509 shares of the company’s stock, valued at approximately $10,513,055.31. This represents a 6.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald G. Macpherson sold 27,502 shares of W.W. Grainger stock in a transaction on Monday, September 16th. The stock was sold at an average price of $1,000.82, for a total transaction of $27,524,551.64. Following the completion of the transaction, the chief executive officer now owns 111,559 shares in the company, valued at approximately $111,650,478.38. The trade was a 19.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,900 shares of company stock valued at $52,640,733 over the last 90 days. Insiders own 9.50% of the company’s stock.

W.W. Grainger Stock Up 1.0 %

GWW opened at $1,206.65 on Monday. The firm has a market capitalization of $58.76 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 3.30 and a beta of 1.15. W.W. Grainger, Inc. has a one year low of $772.13 and a one year high of $1,227.66. The company has a fifty day moving average price of $1,098.38 and a 200-day moving average price of $997.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.59 and a quick ratio of 1.68.

W.W. Grainger (NYSE:GWW) last posted its earnings results on Thursday, October 31st. The industrial products company reported $9.87 EPS for the quarter, missing the consensus estimate of $9.98 by ($0.11). W.W. Grainger had a return on equity of 51.78% and a net margin of 10.80%. The business had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.40 billion. During the same quarter in the previous year, the firm earned $9.43 earnings per share. W.W. Grainger’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities research analysts expect that W.W. Grainger, Inc. will post 38.92 earnings per share for the current fiscal year.

W.W. Grainger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Monday, November 11th will be paid a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Friday, November 8th. W.W. Grainger’s dividend payout ratio is currently 22.23%.

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.