Ferguson plc $FERG Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its position in Ferguson plc (NYSE:FERG) by 7.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,716 shares of the company’s stock after selling 12,879 shares during the period. Ferguson makes up approximately 0.8% of Sterling Capital Management LLC’s portfolio, making the stock its 26th biggest position. Sterling Capital Management LLC owned approximately 0.09% of Ferguson worth $37,782,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Wedbush Securities Inc. boosted its holdings in Ferguson by 4.3% in the second quarter. Wedbush Securities Inc. now owns 1,197 shares of the company’s stock worth $284,000 after acquiring an additional 49 shares in the last quarter. L2 Asset Management LLC increased its holdings in shares of Ferguson by 5.2% during the second quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock valued at $263,000 after acquiring an additional 55 shares in the last quarter. Cidel Asset Management Inc. increased its holdings in shares of Ferguson by 3.8% during the second quarter. Cidel Asset Management Inc. now owns 1,541 shares of the company’s stock valued at $366,000 after acquiring an additional 56 shares in the last quarter. Natural Investments LLC increased its holdings in shares of Ferguson by 6.9% during the second quarter. Natural Investments LLC now owns 944 shares of the company’s stock valued at $224,000 after acquiring an additional 61 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Ferguson by 26.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 300 shares of the company’s stock worth $67,000 after purchasing an additional 62 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ferguson

In other news, CFO William Brundage sold 5,986 shares of the stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $218.74, for a total value of $1,309,377.64. Following the completion of the sale, the chief financial officer owned 54,908 shares in the company, valued at $12,010,575.92. This represents a 9.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ian T. Graham sold 1,854 shares of the stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $218.74, for a total transaction of $405,543.96. Following the completion of the sale, the insider owned 11,511 shares of the company’s stock, valued at approximately $2,517,916.14. This represents a 13.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 38,808 shares of company stock worth $8,571,587. 0.15% of the stock is currently owned by insiders.

Ferguson Stock Down 0.1%

Shares of Ferguson stock traded down $0.32 on Friday, hitting $226.99. The company had a trading volume of 969,096 shares, compared to its average volume of 1,454,920. The stock has a market capitalization of $43.91 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.64 and a beta of 1.14. Ferguson plc has a 1 year low of $212.13 and a 1 year high of $271.64. The stock has a 50 day moving average of $225.67 and a 200-day moving average of $234.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73.

Ferguson (NYSE:FERG) last posted its earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The company had revenue of $8.75 billion for the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. As a group, sell-side analysts forecast that Ferguson plc will post 11.42 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st were paid a dividend of $0.89 per share. The ex-dividend date was Friday, August 21st. This represents a $3.56 annualized dividend and a yield of 1.6%. Ferguson’s dividend payout ratio (DPR) is 41.83%.

Wall Street Analyst Weigh In

FERG has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on Ferguson from $290.00 to $270.00 and set a “neutral” rating on the stock in a report on Tuesday, September 15th. DA Davidson boosted their price target on shares of Ferguson from $278.00 to $284.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Barclays upped their price objective on shares of Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. UBS Group raised their price objective on shares of Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Zelman & Associates raised shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $287.28.

Ferguson Company Profile

Ferguson plc (NYSE: FERG) is a value-added distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, fire protection and other building and industrial products. The company serves professional contractors, municipalities, commercial and industrial businesses, and other customers through a network of branches, distribution centers, showrooms and digital platforms.

Its product offering includes pipes, valves, fittings, plumbing fixtures, water and wastewater infrastructure products, HVAC equipment, fire protection systems, industrial supplies and related tools and services.