Bank of Montreal Can Reduces Stock Holdings in Ferguson plc $FERG

Bank of Montreal Can reduced its stake in shares of Ferguson plc (NYSE:FERG) by 17.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 167,853 shares of the company’s stock after selling 35,295 shares during the period. Bank of Montreal Can’s holdings in Ferguson were worth $36,550,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Ferguson by 24.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company’s stock worth $544,000 after purchasing an additional 657 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Ferguson by 30.6% during the 1st quarter. OneDigital Investment Advisors LLC now owns 4,242 shares of the company’s stock worth $680,000 after purchasing an additional 995 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Greenleaf Trust increased its holdings in Ferguson by 12.4% during the 1st quarter. Greenleaf Trust now owns 4,270 shares of the company’s stock worth $684,000 after purchasing an additional 471 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Ferguson by 3,777.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 17,450 shares of the company’s stock worth $2,810,000 after purchasing an additional 17,000 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

NYSE:FERG opened at $249.02 on Thursday. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $252.52. The firm has a market cap of $48.80 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 2.05 and a beta of 1.18. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average is $234.63.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.00 by $0.48. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.44 billion.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a yield of 1.3%. Ferguson’s payout ratio is currently 35.55%.

Insider Buying and Selling at Ferguson

In other Ferguson news, insider Kevin Michael Murphy sold 8,800 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $234.13, for a total transaction of $2,060,344.00. Following the completion of the transaction, the insider owned 159,931 shares in the company, valued at approximately $37,444,645.03. The trade was a 5.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William Brundage sold 3,000 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $233.32, for a total value of $699,960.00. Following the transaction, the chief financial officer owned 52,631 shares of the company’s stock, valued at $12,279,864.92. This trade represents a 5.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 29,264 shares of company stock worth $6,853,349. 0.18% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on FERG. Robert W. Baird lifted their price objective on Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price objective on Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a report on Wednesday, October 8th. Wall Street Zen upgraded Ferguson from a “hold” rating to a “buy” rating in a report on Monday, October 20th. Finally, Truist Financial lifted their price objective on Ferguson from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $240.80.

Ferguson Company Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.