Grainger (GRI) Reaches New 1-Year High at $297.40
Grainger Plc (LON:GRI) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 297.40 ($4.00) and last traded at GBX 287.80 ($3.87), with a volume of 977170 shares. The stock had previously closed at GBX 287.80 ($3.87).
GRI has been the subject of several research analyst reports. Peel Hunt restated a “buy” rating and issued a GBX 300 ($4.04) target price on shares of Grainger in a report on Tuesday, August 29th. Numis Securities cut shares of Grainger to an “add” rating and upped their target price for the company from GBX 300 ($4.04) to GBX 323 ($4.35) in a report on Wednesday, November 29th. J P Morgan Chase & Co upped their target price on shares of Grainger from GBX 310 ($4.17) to GBX 320 ($4.31) and gave the company a “neutral” rating in a report on Wednesday, December 6th. Jefferies Group restated a “hold” rating and issued a GBX 297 ($4.00) target price on shares of Grainger in a report on Friday, December 1st. Finally, N+1 Singer restated a “buy” rating and issued a GBX 320 ($4.31) target price on shares of Grainger in a report on Wednesday, September 27th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of GBX 311.67 ($4.19).
The business also recently declared a dividend, which will be paid on Friday, February 9th. Stockholders of record on Thursday, December 28th will be given a dividend of GBX 3.26 ($0.04) per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a dividend yield of 1.18%. This is an increase from Grainger’s previous dividend of $1.60.
In related news, insider Helen Gordon purchased 8,972 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was acquired at an average price of GBX 283 ($3.81) per share, with a total value of £25,390.76 ($34,173.30). Also, insider Vanessa Simms purchased 112 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The shares were bought at an average cost of GBX 267 ($3.59) per share, with a total value of £299.04 ($402.48). Insiders have bought 15,688 shares of company stock valued at $4,412,120 in the last three months.
Grainger Company Profile
Grainger plc is a United Kingdom-based company, which operates as a residential landlord. The Company’s segments include Residential, Development, Funds and Other. Its assets include Regulated Tenancy Portfolio, Private Rented Sector Portfolio and Development. It has a portfolio of approximately 8,610 rental homes.
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