Rhumbline Advisers Sells 3,553 Shares of Ferguson plc $FERG

Rhumbline Advisers lowered its position in Ferguson plc (NYSE:FERG) by 1.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 211,720 shares of the company’s stock after selling 3,553 shares during the period. Rhumbline Advisers’ holdings in Ferguson were worth $47,548,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after acquiring an additional 77 shares in the last quarter. Cornerstone Planning Group LLC lifted its stake in shares of Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares during the last quarter. Quent Capital LLC bought a new stake in Ferguson in the third quarter worth $43,000. Harbour Investments Inc. boosted its holdings in Ferguson by 61.3% in the second quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock worth $53,000 after purchasing an additional 92 shares in the last quarter. Finally, AdvisorShares Investments LLC acquired a new position in Ferguson during the second quarter worth $58,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on FERG. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. Vertical Research began coverage on Ferguson in a research note on Monday, October 20th. They issued a “buy” rating and a $291.99 price objective on the stock. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a report on Tuesday, January 6th. Wells Fargo & Company upped their target price on Ferguson from $275.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferguson in a report on Friday, January 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

Ferguson Stock Down 0.9%

Shares of FERG stock opened at $261.34 on Friday. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $271.64. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. The firm has a market cap of $51.10 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.19 and a beta of 1.18. The stock has a 50 day moving average of $240.98 and a 200-day moving average of $237.61.

Ferguson (NYSE:FERG) last posted its quarterly earnings data 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 net margin of 6.28% and a return on equity of 35.73%. The company had revenue of $8.17 billion for the quarter. During the same quarter in the previous year, the firm posted $2.45 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be given a dividend of $0.89 per share. This is a boost from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, January 2nd. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. Ferguson’s dividend payout ratio 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.