Bank of Nova Scotia Increases Holdings in W.W. Grainger, Inc. (NYSE:GWW)

Bank of Nova Scotia lifted its position in shares of W.W. Grainger, Inc. (NYSE:GWW - Free Report) by 94.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,006 shares of the industrial products company's stock after buying an additional 5,335 shares during the quarter. Bank of Nova Scotia's holdings in W.W. Grainger were worth $11,601,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Busey Bank raised its stake in W.W. Grainger by 1.5% in the 4th quarter. Busey Bank now owns 615 shares of the industrial products company's stock valued at $648,000 after purchasing an additional 9 shares during the last quarter. Angeles Wealth Management LLC boosted its position in shares of W.W. Grainger by 2.1% in the 4th quarter. Angeles Wealth Management LLC now owns 438 shares of the industrial products company's stock worth $462,000 after purchasing an additional 9 shares during the last quarter. Iron Horse Wealth Management LLC grew its stake in shares of W.W. Grainger by 43.5% in the fourth quarter. Iron Horse Wealth Management LLC now owns 33 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 10 shares in the last quarter. Welch & Forbes LLC lifted its position in shares of W.W. Grainger by 2.1% during the 4th quarter. Welch & Forbes LLC now owns 481 shares of the industrial products company's stock valued at $507,000 after acquiring an additional 10 shares during the period. Finally, United Community Bank grew its stake in W.W. Grainger by 6.9% during the fourth quarter. United Community Bank now owns 155 shares of the industrial products company's stock valued at $163,000 after acquiring an additional 10 shares in the last quarter. 80.70% of the stock is currently owned by institutional investors.

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W.W. Grainger Stock Down 0.7 %

NYSE:GWW traded down $6.51 during mid-day trading on Wednesday, hitting $993.22. 70,846 shares of the company's stock traded hands, compared to its average volume of 252,371. W.W. Grainger, Inc. has a twelve month low of $874.98 and a twelve month high of $1,227.66. The company has a market capitalization of $47.89 billion, a P/E ratio of 25.66, a P/E/G ratio of 2.70 and a beta of 1.20. The company has a fifty day moving average of $991.45 and a 200 day moving average of $1,071.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.49 and a current ratio of 2.49.

W.W. Grainger (NYSE:GWW - Get Free Report) last issued its earnings results on Friday, January 31st. The industrial products company reported $9.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.75 by ($0.04). W.W. Grainger had a net margin of 11.12% and a return on equity of 52.43%. During the same quarter last year, the business posted $8.33 earnings per share. On average, analysts forecast 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. Investors of record on Monday, February 10th were issued a dividend of $2.05 per share. The ex-dividend date was Monday, February 10th. This represents a $8.20 dividend on an annualized basis and a yield of 0.83%. W.W. Grainger's dividend payout ratio is presently 21.18%.

Insider Activity at W.W. Grainger

In other W.W. Grainger news, CFO Deidra C. Merriwether sold 1,164 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $997.12, for a total value of $1,160,647.68. Following the transaction, the chief financial officer now owns 10,235 shares of the company's stock, valued at $10,205,523.20. This trade represents a 10.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GWW has been the subject of several research analyst reports. Wolfe Research downgraded shares of W.W. Grainger from a "peer perform" rating to an "underperform" rating and set a $966.00 price target for the company. in a research note on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price target on W.W. Grainger from $1,125.00 to $1,100.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada lowered their price objective on W.W. Grainger from $1,113.00 to $1,112.00 and set a "sector perform" rating on the stock in a research report on Monday, February 3rd. StockNews.com lowered shares of W.W. Grainger from a "buy" rating to a "hold" rating in a research note on Thursday, December 19th. Finally, William Blair upgraded shares of W.W. Grainger from a "market perform" rating to an "outperform" rating in a research report on Monday, March 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $1,130.89.

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.