What are the Reasons to Add W.W. Grainger (GWW) to Your Portfolio?
ClearBridge Investments, an investment management firm, released its fourth-quarter 2023 “ClearBridge Aggressive Growth Strategy” investor letter, which can be downloaded here. The strategy outperformed its Russell 3000 Growth Index benchmark for the quarter. It had delivered gains across seven of the eight sectors in which it was invested on an absolute basis. Overall stock selection contributed to the strategy's performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Aggressive Growth Strategy featured stocks like W.W. Grainger, Inc. (NYSE:GWW) in the Q4 2023 investor letter. Headquartered in Lake Forest, Illinois, W.W. Grainger, Inc. (NYSE:GWW) is a maintenance, repair, and operating products and services distributor. On March 15, 2024, W.W. Grainger, Inc. (NYSE:GWW) stock closed at $994.37 per share. One-month return of W.W. Grainger, Inc. (NYSE:GWW) was 7.39%, and its shares gained 49.12% of their value over the last 52 weeks. W.W. Grainger, Inc. (NYSE:GWW) has a market capitalization of $49.375 billion.
ClearBridge Aggressive Growth Strategy stated the following regarding W.W. Grainger, Inc. (NYSE:GWW) in its fourth quarter 2023 investor letter:
"We purchased W.W. Grainger, Inc. (NYSE:GWW), the largest industrial MRO (“maintenance, repair, and operations”) distributor in North America. Like Cintas, Grainger is a share gainer in a large and fragmented market, with less than 10% share of the addressable market for their direct, “high touch solutions” business estimated at more than $165 billion. The company has also barely scratched the surface with its online “endless assortment” platform, Zoro.com, which targets an even larger market. In addition to its growth and profit potential, we are attracted to Grainger’s strong balance sheet and improved capital allocation under its current management."
A portrait of an industrial worker wearing safety equipment, smiling while inspecting a piece of equipment.
W.W. Grainger, Inc. (NYSE:GWW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, W.W. Grainger, Inc. (NYSE:GWW) was held by 35 hedge fund portfolios, compared to 32 in the previous quarter, according to our database.
We discussed W.W. Grainger, Inc. (NYSE:GWW) in another article and shared the list of most reliable dividend stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
