Wishbone Management LP Sells 105,000 Shares of Ferguson plc (NASDAQ:FERG)

Wishbone Management LP trimmed its stake in shares of Ferguson plc (NASDAQ:FERG) by 33.3% in the third quarter, HoldingsChannel.com reports. The fund owned 210,000 shares of the company’s stock after selling 105,000 shares during the quarter. Ferguson comprises about 14.9% of Wishbone Management LP’s investment portfolio, making the stock its 3rd biggest position. Wishbone Management LP’s holdings in Ferguson were worth $41,700,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of FERG. Vinva Investment Management Ltd bought a new stake in shares of Ferguson during the 3rd quarter worth approximately $796,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Ferguson by 423.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after purchasing an additional 1,183,143 shares in the last quarter. Brown Shipley& Co Ltd bought a new stake in Ferguson during the third quarter worth $205,000. FORA Capital LLC bought a new position in shares of Ferguson in the 3rd quarter valued at $857,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Ferguson by 816.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 203,416 shares of the company’s stock valued at $40,392,000 after purchasing an additional 181,216 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Up 0.4 %

Shares of Ferguson stock opened at $213.27 on Thursday. The firm has a market cap of $42.81 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.06 and a beta of 1.20. The stock’s 50-day moving average is $201.32 and its 200 day moving average is $202.52. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. Ferguson plc has a one year low of $166.21 and a one year high of $225.63.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.77 EPS. Equities research analysts anticipate that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a $0.79 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.48%. Ferguson’s dividend payout ratio is presently 37.05%.

Insider Buying and Selling

In other Ferguson news, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the sale, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at approximately $378,696.04. The trade was a 37.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the transaction, the vice president now directly owns 1,116 shares in the company, valued at approximately $224,271.36. The trade was a 70.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FERG has been the topic of several research analyst reports. Robert W. Baird raised their price objective on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Barclays lifted their price target on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Wells Fargo & Company increased their price objective on shares of Ferguson from $225.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Oppenheimer started coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.38.

Ferguson 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.