Fort L.P. Trims Stock Position in Ferguson plc (NASDAQ:FERG)

Fort L.P. trimmed its holdings in Ferguson plc (NASDAQ:FERG) by 22.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,015 shares of the company’s stock after selling 286 shares during the quarter. Fort L.P.’s holdings in Ferguson were worth $202,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Cannon Global Investment Management LLC acquired a new stake in shares of Ferguson during the 3rd quarter worth approximately $397,000. Van ECK Associates Corp grew its position in Ferguson by 17.8% during the third quarter. Van ECK Associates Corp now owns 44,839 shares of the company’s stock valued at $8,765,000 after buying an additional 6,767 shares during the period. Janney Montgomery Scott LLC increased its holdings in Ferguson by 2.0% in the third quarter. Janney Montgomery Scott LLC now owns 110,263 shares of the company’s stock valued at $21,895,000 after buying an additional 2,150 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Ferguson by 33.8% in the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after acquiring an additional 92 shares during the period. Finally, Stephens Inc. AR purchased a new stake in shares of Ferguson during the 3rd quarter worth about $234,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group boosted their price target on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Oppenheimer assumed coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price for the company. Barclays raised their price target on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. UBS Group boosted their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Finally, Robert W. Baird raised their target price on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $232.50.

Ferguson Trading Up 0.6 %

NASDAQ:FERG traded up $1.24 during trading hours on Friday, reaching $197.98. 1,631,771 shares of the stock were exchanged, compared to its average volume of 1,395,496. Ferguson plc has a twelve month low of $154.61 and a twelve month high of $225.63. The business has a 50-day moving average of $198.83 and a two-hundred day moving average of $203.54. The company has a market capitalization of $39.74 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 1.91 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. The business had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.77 earnings per share. On average, equities analysts predict that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend is Friday, September 27th. Ferguson’s payout ratio is presently 37.05%.

Insider Transactions at Ferguson

In other Ferguson news, CAO Richard Winckler sold 1,325 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.75, for a total value of $267,318.75. Following the sale, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at approximately $201,750. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the completion of the transaction, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at $378,696.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Richard Winckler sold 1,325 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares in the company, valued at $201,750. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is currently owned by corporate insiders.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.