Truist Financial Corp Sells 41,145 Shares of Ferguson plc $FERG

Truist Financial Corp lowered its holdings in shares of Ferguson plc (NYSE:FERG) by 13.8% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 258,043 shares of the company’s stock after selling 41,145 shares during the period. Truist Financial Corp owned about 0.13% of Ferguson worth $57,951,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Rakuten Investment Management Inc. bought a new stake in shares of Ferguson in the 3rd quarter valued at $1,002,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Ferguson by 11.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,523 shares of the company’s stock valued at $4,609,000 after buying an additional 2,145 shares during the period. Fisher Funds Management LTD lifted its holdings in Ferguson by 7.0% in the third quarter. Fisher Funds Management LTD now owns 160,428 shares of the company’s stock valued at $36,029,000 after buying an additional 10,426 shares during the period. Nordea Investment Management AB boosted its position in Ferguson by 68.9% during the second quarter. Nordea Investment Management AB now owns 239,783 shares of the company’s stock valued at $52,230,000 after acquiring an additional 97,791 shares during the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in Ferguson during the 3rd quarter worth about $1,252,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FERG has been the topic of several research analyst reports. Wall Street Zen lowered Ferguson from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Jefferies Financial Group boosted their price target on Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Robert W. Baird increased their price target on Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Vertical Research started coverage on shares of Ferguson in a research note on Monday, October 20th. They issued a “buy” rating and a $291.99 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $253.00.

Ferguson Trading Up 0.0%

NYSE FERG opened at $251.63 on Thursday. 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 $146.00 and a 52 week high of $256.93. The business has a 50 day moving average price of $238.02 and a 200-day moving average price of $234.55. The company has a market cap of $49.21 billion, a price-to-earnings ratio of 25.42, a P/E/G ratio of 2.06 and a beta of 1.18.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.07. The business had revenue of $8.17 billion during the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.45 EPS.

Ferguson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, January 2nd. This is a boost from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. Ferguson’s payout ratio is presently 35.96%.

About Ferguson

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.