First Trust Advisors LP Has $97.55 Million Holdings in Ferguson plc $FERG

First Trust Advisors LP lowered its stake in Ferguson plc (NYSE:FERG) by 19.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 434,365 shares of the company’s stock after selling 106,045 shares during the period. First Trust Advisors LP’s holdings in Ferguson were worth $97,550,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank bought a new position in shares of Ferguson in the second quarter valued at approximately $395,401,000. Franklin Resources Inc. lifted its position 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 acquiring an additional 1,201,493 shares during the last quarter. Egerton Capital UK LLP boosted its holdings in Ferguson by 16.4% during the third quarter. Egerton Capital UK LLP now owns 2,600,224 shares of the company’s stock valued at $583,958,000 after acquiring an additional 366,898 shares during the period. Artisan Partners Limited Partnership boosted its holdings in Ferguson by 89.5% during the second quarter. Artisan Partners Limited Partnership now owns 759,687 shares of the company’s stock valued at $165,422,000 after acquiring an additional 358,853 shares during the period. Finally, Waverton Investment Management Ltd grew its position in shares of Ferguson by 30.8% in the third quarter. Waverton Investment Management Ltd now owns 1,465,335 shares of the company’s stock valued at $328,902,000 after purchasing an additional 345,165 shares during the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Price Performance

NYSE:FERG opened at $230.47 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The company has a 50-day moving average of $248.73 and a 200-day moving average of $240.70. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $271.64. The company has a market capitalization of $44.83 billion, a price-to-earnings ratio of 23.28 and a beta of 1.17.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.52 EPS.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is presently 35.96%.

Wall Street Analyst Weigh In

FERG has been the subject of several recent analyst reports. Robert W. Baird increased their target price on Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Jefferies Financial Group reissued a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a research report on Tuesday, February 24th. Wells Fargo & Company boosted their target price on shares of Ferguson from $280.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Wall Street Zen downgraded shares of Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $262.62.

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.