Manning & Napier Advisors LLC Sells 3,954 Shares of Ferguson plc $FERG

Manning & Napier Advisors LLC lessened its position in shares of Ferguson plc (NYSE:FERG) by 15.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 22,171 shares of the company’s stock after selling 3,954 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Ferguson were worth $5,001,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Ferguson by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock valued at $4,323,104,000 after purchasing an additional 102,850 shares in the last quarter. State Street Corp grew its stake in shares of Ferguson by 1.9% in the 3rd quarter. State Street Corp now owns 4,437,468 shares of the company’s stock worth $1,000,152,000 after buying an additional 81,094 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Ferguson by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company’s stock worth $980,921,000 after buying an additional 112,157 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Ferguson by 22.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock worth $838,786,000 after buying an additional 682,666 shares during the last quarter. Finally, Soroban Capital Partners LP increased its holdings in shares of Ferguson by 2.8% in the 2nd quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock worth $806,776,000 after buying an additional 100,559 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

FERG opened at $241.47 on Friday. The business has a fifty day moving average of $243.59 and a 200 day moving average of $244.09. The stock has a market cap of $46.83 billion, a P/E ratio of 27.38, a PEG ratio of 1.71 and a beta of 1.23. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. Ferguson plc has a 52-week low of $170.23 and a 52-week high of $271.64.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.92% and a net margin of 6.98%.The business had revenue of $7.47 billion for the quarter. During the same quarter in the previous year, the business earned $2.50 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Ferguson plc will post 11.23 EPS for the current year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is currently 40.36%.

Ferguson announced that its board has initiated a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barclays increased their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank Of Canada upped their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday. Wall Street Zen lowered Ferguson from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Oppenheimer lifted their target price on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Finally, Wells Fargo & Company boosted their target price on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $269.73.

Ferguson Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.