First Trust Advisors LP Cuts Holdings in Ferguson plc (NASDAQ:FERG)

First Trust Advisors LP lowered its stake in Ferguson plc (NASDAQ:FERG) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,412 shares of the company’s stock after selling 15,646 shares during the period. First Trust Advisors LP’s holdings in Ferguson were worth $70,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Ferguson by 32.5% in the third quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock valued at $6,359,000 after acquiring an additional 7,862 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Ferguson by 7.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock valued at $135,247,000 after purchasing an additional 52,776 shares in the last quarter. New York Life Investment Management LLC acquired a new stake in shares of Ferguson in the 4th quarter valued at $587,000. Clean Yield Group lifted its position in shares of Ferguson by 27.1% during the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock worth $4,506,000 after purchasing an additional 5,534 shares during the last quarter. Finally, Markel Group Inc. grew its stake in shares of Ferguson by 25.4% during the fourth quarter. Markel Group Inc. now owns 106,000 shares of the company’s stock worth $18,398,000 after purchasing an additional 21,500 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Trading Down 2.6 %

Shares of FERG stock opened at $160.03 on Tuesday. The company has a market capitalization of $32.00 billion, a P/E ratio of 19.21, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $166.24 and its two-hundred day moving average is $182.91. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $225.63.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same quarter last year, the business earned $1.74 earnings per share. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts forecast that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be given a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 2.07%. Ferguson’s payout ratio is currently 40.84%.

Analyst Ratings Changes

A number of analysts have issued reports on FERG shares. Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on Ferguson from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, March 19th. Oppenheimer cut their price objective on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Citigroup reduced their price objective on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company increased their target price on shares of Ferguson from $180.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.38.

Ferguson Company Profile

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.