Ferguson plc $FERG Stock: Pictet Asset Management Holding SA Decreases Holdings

Pictet Asset Management Holding SA lowered its position in Ferguson plc (NYSE:FERG) by 16.7% in the third quarter, HoldingsChannel reports. The fund owned 1,762,716 shares of the company’s stock after selling 354,153 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ferguson were worth $392,426,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Alps Advisors Inc. increased its stake in shares of Ferguson by 5.6% in the 3rd quarter. Alps Advisors Inc. now owns 2,276 shares of the company’s stock valued at $507,000 after purchasing an additional 120 shares in the last quarter. Heritage Family Offices LLP purchased a new position in Ferguson during the third quarter worth approximately $38,000. Alta Advisers Ltd purchased a new position in Ferguson during the third quarter worth approximately $312,000. Argonautica Private Wealth Management Inc. boosted its position in Ferguson by 10.8% during the third quarter. Argonautica Private Wealth Management Inc. now owns 1,733 shares of the company’s stock worth $386,000 after purchasing an additional 169 shares in the last quarter. Finally, Kestra Advisory Services LLC grew its holdings in Ferguson by 21.7% in the third quarter. Kestra Advisory Services LLC now owns 35,366 shares of the company’s stock valued at $7,873,000 after purchasing an additional 6,303 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ferguson

In other news, insider Kevin Murphy sold 11,259 shares of Ferguson stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $216.78, for a total value of $2,440,726.02. Following the sale, the insider directly owned 173,863 shares of the company’s stock, valued at $37,690,021.14. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jake Schlicher sold 5,177 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $230.92, for a total value of $1,195,472.84. Following the sale, the insider owned 9,490 shares of the company’s stock, valued at $2,191,430.80. The trade was a 35.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 38,808 shares of company stock valued at $8,571,587. 0.15% of the stock is owned by insiders.

Ferguson Stock Down 0.7%

FERG opened at $233.95 on Friday. Ferguson plc has a twelve month low of $212.13 and a twelve month high of $271.64. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average price of $225.41 and a 200 day moving average price of $237.16. The company has a market cap of $45.26 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 1.69 and a beta of 1.11.

Ferguson (NYSE:FERG) last issued its quarterly 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. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The firm had revenue of $8.75 billion for the quarter. Sell-side analysts expect that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is presently 41.83%.

Analyst Upgrades and Downgrades

FERG has been the subject of a number of recent analyst reports. Royal Bank Of Canada cut their price objective on Ferguson from $290.00 to $286.00 and set an “outperform” rating for the company in a research report on Wednesday, October 7th. Sanford C. Bernstein increased their target price on Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Jefferies Financial Group decreased their target price on Ferguson from $295.00 to $292.00 in a research report on Thursday, October 15th. Rothschild & Co Redburn lifted their price target on shares of Ferguson from $295.00 to $307.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Robert W. Baird boosted their price target on shares of Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.44.

Ferguson Profile

Ferguson plc is a distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, and fire protection products. It supplies contractors and other professional customers with products, services, and expertise for residential, commercial, industrial, and infrastructure projects.

The company serves customers primarily in the United States and Canada through branches, distribution centers, and digital channels. Its offerings include pipes, valves and fittings, plumbing fixtures, HVAC equipment, water and wastewater products, and fire protection systems.

Ferguson traces its history to Wolseley, a British company that entered the plumbing and heating distribution business in the 1950s.