New York State Common Retirement Fund Sells 3,600 Shares of Ferguson plc $FERG

New York State Common Retirement Fund lessened its stake in Ferguson plc (NYSE:FERG) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,853 shares of the company’s stock after selling 3,600 shares during the period. New York State Common Retirement Fund owned 0.07% of Ferguson worth $31,857,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Ferguson during the second quarter valued at $395,401,000. Franklin Resources Inc. raised its holdings in Ferguson by 39.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock worth $926,830,000 after purchasing an additional 1,201,493 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in Ferguson during the 2nd quarter valued at about $130,650,000. Artisan Partners Limited Partnership boosted its stake in shares of Ferguson by 89.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 759,687 shares of the company’s stock valued at $165,422,000 after purchasing an additional 358,853 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Ferguson by 693.6% in the 2nd quarter. Balyasny Asset Management L.P. now owns 296,411 shares of the company’s stock valued at $64,543,000 after purchasing an additional 259,063 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Wells Fargo & Company increased their price target on Ferguson from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Deutsche Bank Aktiengesellschaft raised their price target on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Ferguson in a report on Friday, January 9th. Two research 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Ferguson Stock Performance

Shares of Ferguson stock opened at $252.37 on Friday. The stock’s fifty day simple moving average is $238.83 and its 200 day simple moving average is $234.92. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $49.35 billion, a PE ratio of 25.49, a PEG ratio of 2.10 and a beta of 1.18. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $257.00.

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

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be paid a $0.89 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. Ferguson’s payout ratio is presently 35.96%.

Ferguson Company Profile

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.