Royal London Asset Management Ltd. Sells 474,615 Shares of Ferguson plc (NASDAQ:FERG)

Royal London Asset Management Ltd. lessened its position in Ferguson plc (NASDAQ:FERG) by 22.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,657,397 shares of the company’s stock after selling 474,615 shares during the quarter. Ferguson comprises about 0.9% of Royal London Asset Management Ltd.’s investment portfolio, making the stock its 21st biggest position. Royal London Asset Management Ltd.’s holdings in Ferguson were worth $319,994,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in Ferguson in the 4th quarter worth $29,000. CVA Family Office LLC acquired a new stake in Ferguson in the 4th quarter worth $31,000. Private Trust Co. NA grew its position in Ferguson by 146.1% in the 4th quarter. Private Trust Co. NA now owns 187 shares of the company’s stock worth $36,000 after purchasing an additional 111 shares during the last quarter. Avalon Trust Co acquired a new stake in Ferguson in the 4th quarter worth $50,000. Finally, Park Place Capital Corp grew its position in Ferguson by 2,291.7% in the 4th quarter. Park Place Capital Corp now owns 287 shares of the company’s stock worth $55,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays decreased their price target on shares of Ferguson from $236.00 to $232.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 5th. Royal Bank of Canada decreased their price target on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $221.50.

Ferguson Price Performance

Shares of Ferguson stock traded down $6.11 during trading on Friday, hitting $201.47. 1,310,743 shares of the company’s stock traded hands, compared to its average volume of 1,198,247. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The firm’s fifty day moving average price is $211.26 and its 200 day moving average price is $201.68. Ferguson plc has a twelve month low of $147.62 and a twelve month high of $224.86. The company has a market cap of $40.68 billion, a PE ratio of 22.02, a PEG ratio of 8.41 and a beta of 1.23.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, June 4th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.05. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The business had revenue of $7.31 billion for the quarter, compared to analyst estimates of $7.32 billion. During the same period in the previous year, the business earned $2.20 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. Analysts forecast that Ferguson plc will post 9.66 earnings per share for the current year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 14th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.16 annualized dividend and a dividend yield of 1.57%. Ferguson’s dividend payout ratio (DPR) is currently 34.54%.

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.