Shell Asset Management Co. Reduces Stock Position in Ferguson plc $FERG

Shell Asset Management Co. cut its holdings in Ferguson plc (NYSE:FERG) by 73.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,220 shares of the company’s stock after selling 19,666 shares during the period. Shell Asset Management Co.’s holdings in Ferguson were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FERG. Vanguard Group Inc. raised its stake in shares of Ferguson by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 19,341,871 shares of the company’s stock valued at $4,211,692,000 after purchasing an additional 173,128 shares during the period. Bank of New York Mellon Corp grew its holdings in Ferguson by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,687,611 shares of the company’s stock valued at $1,673,977,000 after buying an additional 27,312 shares in the last quarter. Franklin Resources Inc. grew 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 valued at $926,830,000 after buying an additional 1,201,493 shares in the last quarter. Soroban Capital Partners LP increased its position in shares of Ferguson by 2.8% during the second quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock valued at $806,776,000 after buying an additional 100,559 shares during the period. Finally, Brown Advisory Inc. lifted its holdings in shares of Ferguson by 0.4% in the second quarter. Brown Advisory Inc. now owns 2,442,107 shares of the company’s stock worth $531,769,000 after buying an additional 10,615 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

FERG has been the topic of a number of analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferguson in a report on Friday, January 9th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Robert W. Baird boosted their target price on Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferguson in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Ferguson Stock Down 0.9%

Shares of NYSE:FERG opened at $261.34 on Monday. The firm has a market capitalization of $51.10 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $271.64. The firm has a fifty day moving average of $240.98 and a 200 day moving average of $237.77.

Ferguson (NYSE:FERG) last issued 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. The firm had revenue of $8.17 billion during the quarter. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $2.45 EPS.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.89 per share. The ex-dividend date 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 dividend payout ratio (DPR) is 35.96%.

Ferguson 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.