Oppenheimer Asset Management Inc. Reduces Stock Holdings in Ferguson plc $FERG

Oppenheimer Asset Management Inc. lowered its holdings in shares of Ferguson plc (NYSE:FERG) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,118 shares of the company’s stock after selling 2,230 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ferguson were worth $9,154,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Daymark Wealth Partners LLC lifted its holdings in shares of Ferguson by 4.6% in the 3rd quarter. Daymark Wealth Partners LLC now owns 992 shares of the company’s stock worth $223,000 after buying an additional 44 shares during the period. Signaturefd LLC lifted its holdings in shares of Ferguson by 1.1% in the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after buying an additional 44 shares during the period. Simplicity Wealth LLC lifted its holdings in shares of Ferguson by 1.6% in the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock worth $697,000 after buying an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after buying an additional 48 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Ferguson by 21.7% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company’s stock worth $66,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on FERG shares. Wells Fargo & Company reduced their price target on Ferguson from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. Wall Street Zen lowered Ferguson from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Ferguson in a research report on Tuesday, February 24th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. Finally, Truist Financial upped their target price on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $267.27.

Ferguson Stock Performance

Shares of FERG stock opened at $264.13 on Friday. The company has a market capitalization of $51.34 billion, a P/E ratio of 26.68, a P/E/G ratio of 2.01 and a beta of 1.21. The business’s 50 day moving average is $243.92 and its two-hundred day moving average is $243.73. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12-month low of $166.04 and a 12-month high of $271.64.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.During the same period in the previous year, the company posted $1.52 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts expect that Ferguson plc will post 11.2 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.3%. Ferguson’s dividend payout ratio (DPR) is 35.96%.

Ferguson Company 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.