Phraction Management LLC Sells 3,415 Shares of Ferguson plc $FERG

Phraction Management LLC lowered its stake in Ferguson plc (NYSE:FERG) by 13.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,110 shares of the company’s stock after selling 3,415 shares during the period. Ferguson makes up approximately 1.4% of Phraction Management LLC’s investment portfolio, making the stock its 26th biggest position. Phraction Management LLC’s holdings in Ferguson were worth $4,741,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FERG. Wedmont Private Capital purchased a new position in shares of Ferguson during the 3rd quarter worth about $219,000. Ignite Planners LLC purchased a new position in Ferguson during the 3rd quarter worth $259,000. Chesley Taft & Associates LLC raised its holdings in shares of Ferguson by 18.6% in the third quarter. Chesley Taft & Associates LLC now owns 6,025 shares of the company’s stock valued at $1,353,000 after acquiring an additional 945 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Ferguson in the 3rd quarter valued at about $500,000. Finally, Aaron Wealth Advisors LLC increased its holdings in Ferguson by 91.8% during the third quarter. Aaron Wealth Advisors LLC now owns 2,043 shares of the company’s stock valued at $459,000 after buying an additional 978 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Ferguson stock opened at $225.99 on Friday. The company has a 50 day moving average of $242.03. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $256.93. The stock has a market cap of $44.19 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.07. Ferguson had a net margin of 6.28% and a return on equity of 36.42%. The firm had revenue of $8.17 billion during the quarter. During the same quarter last year, the business posted $2.45 EPS. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, January 2nd. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio is currently 33.54%.

Insider Activity at Ferguson

In other news, CFO William Brundage sold 3,000 shares of the 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 sale, the chief financial officer directly owned 52,631 shares in the company, valued at approximately $12,279,864.92. This trade represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jake Schlicher sold 3,000 shares of Ferguson stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $233.52, for a total value of $700,560.00. Following the completion of the transaction, the senior vice president owned 11,651 shares of the company’s stock, valued at $2,720,741.52. The trade was a 20.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,264 shares of company stock worth $6,853,349 over the last ninety days. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FERG. Barclays cut their price objective on shares of Ferguson from $273.00 to $267.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. UBS Group cut their price objective on shares of Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 10th. Sanford C. Bernstein reiterated an “outperform” rating and set a $288.00 price target on shares of Ferguson in a research report on Wednesday, December 10th. Jefferies Financial Group boosted their price objective on Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Finally, Wall Street Zen upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $250.47.

About Ferguson

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.