Fiduciary Trust Co Decreases Stake in Ferguson plc (NASDAQ:FERG)

Fiduciary Trust Co cut its holdings in shares of Ferguson plc (NASDAQ:FERG) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,458 shares of the company’s stock after selling 87 shares during the quarter. Fiduciary Trust Co’s holdings in Ferguson were worth $1,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC raised its position in shares of Ferguson by 3.5% in the third quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after purchasing an additional 288,935 shares during the period. Bank of New York Mellon Corp raised its holdings in Ferguson by 375.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after acquiring an additional 4,966,821 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Ferguson by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock worth $302,781,000 after acquiring an additional 153,757 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Ferguson by 5.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,412,652 shares of the company’s stock worth $280,510,000 after acquiring an additional 79,152 shares during the period. Finally, First Pacific Advisors LP grew its position in shares of Ferguson by 1.4% in the second quarter. First Pacific Advisors LP now owns 1,104,289 shares of the company’s stock valued at $213,846,000 after purchasing an additional 15,700 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 1.3 %

Shares of NASDAQ:FERG opened at $216.01 on Friday. The firm has a fifty day moving average of $201.57 and a 200 day moving average of $202.66. Ferguson plc has a 52-week low of $167.09 and a 52-week high of $225.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The firm has a market capitalization of $43.36 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 2.07 and a beta of 1.20.

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

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.46%. Ferguson’s payout ratio is 37.05%.

Insider Activity

In other news, SVP Garland Williams sold 1,118 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction of $224,963.96. Following the transaction, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at approximately $378,696.04. This trade represents a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now directly owns 5,205 shares of the company’s stock, valued at approximately $1,047,246. This trade represents a 22.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,313 shares of company stock valued at $2,477,901. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Robert W. Baird raised their target price on Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group boosted their price objective on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Barclays increased their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Royal Bank of Canada boosted their price target on shares of Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company increased their price objective on Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ferguson presently has an average 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.