Envestnet Asset Management Inc. Sells 34,412 Shares of Ferguson plc (NASDAQ:FERG)

Envestnet Asset Management Inc. cut its stake in shares of Ferguson plc (NASDAQ:FERG) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 784,543 shares of the company’s stock after selling 34,412 shares during the period. Envestnet Asset Management Inc. owned 0.39% of Ferguson worth $136,173,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FERG. Principal Financial Group Inc. lifted its stake in Ferguson by 32.5% in the 3rd quarter. Principal Financial Group Inc. now owns 32,025 shares of the company’s stock worth $6,359,000 after purchasing an additional 7,862 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Ferguson by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock worth $135,247,000 after buying an additional 52,776 shares in the last quarter. New York Life Investment Management LLC bought a new stake in Ferguson during the fourth quarter valued at $587,000. Neo Ivy Capital Management purchased a new position in Ferguson during the third quarter worth about $970,000. Finally, Clean Yield Group increased its stake in Ferguson by 27.1% in the 4th quarter. Clean Yield Group now owns 25,959 shares of the company’s stock worth $4,506,000 after acquiring an additional 5,534 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wolfe Research began coverage on Ferguson in a report on Monday, March 17th. They set a “peer perform” rating for the company. Morgan Stanley initiated coverage on shares of Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferguson in a report on Tuesday, April 1st. They set a “hold” rating and a $174.00 price objective for the company. Robert W. Baird set a $190.00 target price on shares of Ferguson and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Finally, Zelman & Associates downgraded Ferguson from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 17th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.62.

Ferguson Trading Down 2.3 %

Shares of FERG stock opened at $152.05 on Tuesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The business has a 50-day moving average of $171.04 and a 200 day moving average of $185.94. The stock has a market capitalization of $30.40 billion, a PE ratio of 18.25, a P/E/G ratio of 1.69 and a beta of 1.17. Ferguson plc has a 1-year low of $146.15 and a 1-year high of $225.63.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.76 billion. During the same period last year, the company posted $1.74 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is presently 40.84%.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.