Ferguson plc $FERG Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its holdings in Ferguson plc (NYSE:FERG) by 7.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 169,716 shares of the company’s stock after selling 12,879 shares during the period. Ferguson comprises about 0.8% of Sterling Capital Management LLC’s holdings, making the stock its 26th biggest position. Sterling Capital Management LLC’s holdings in Ferguson were worth $37,782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Jupiter Topco LLC bought a new stake in Ferguson during the second quarter worth $1,789,368,000. Janus Henderson Group PLC boosted its position in Ferguson by 2.1% in the first quarter. Janus Henderson Group PLC now owns 6,107,108 shares of the company’s stock worth $1,424,075,000 after purchasing an additional 125,317 shares during the last quarter. State Street Corp grew its stake in Ferguson by 1.1% in the 2nd quarter. State Street Corp now owns 4,619,995 shares of the company’s stock valued at $1,100,474,000 after purchasing an additional 48,544 shares during the period. Pictet Asset Management Holding SA grew its stake in Ferguson by 9.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,868,181 shares of the company’s stock valued at $668,809,000 after purchasing an additional 240,666 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Ferguson by 0.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,055,351 shares of the company’s stock valued at $487,796,000 after purchasing an additional 16,866 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

NYSE:FERG traded down $0.32 during trading hours on Friday, reaching $226.99. The stock had a trading volume of 969,096 shares, compared to its average volume of 1,454,920. The stock has a market cap of $43.91 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 1.64 and a beta of 1.14. The stock has a 50 day simple moving average of $225.67 and a 200 day simple moving average of $234.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. Ferguson plc has a 12-month low of $212.13 and a 12-month high of $271.64.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The firm had revenue of $8.75 billion for the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. On average, research analysts forecast that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Friday, August 21st were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Friday, August 21st. Ferguson’s payout ratio is currently 41.83%.

Insider Buying and Selling at Ferguson

In other news, insider Ian T. Graham sold 1,097 shares of Ferguson stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $230.00, for a total value of $252,310.00. Following the completion of the transaction, the insider owned 9,874 shares in the company, valued at $2,271,020. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jake Schlicher sold 314 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $224.50, for a total transaction of $70,493.00. Following the completion of the sale, the insider directly owned 8,621 shares in the company, valued at approximately $1,935,414.50. This trade represents a 3.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 38,808 shares of company stock valued at $8,571,587. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FERG shares. The Goldman Sachs Group decreased their target price on Ferguson from $290.00 to $270.00 and set a “neutral” rating for the company in a research report on Tuesday, September 15th. 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. Bank of America reduced their price target on shares of Ferguson from $325.00 to $315.00 in a research report on Tuesday, August 18th. Citigroup raised their price objective on shares of Ferguson from $275.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Barclays lifted their price objective on shares of Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $287.28.

Ferguson Profile

Ferguson plc (NYSE: FERG) is a value-added distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, fire protection and other building and industrial products. The company serves professional contractors, municipalities, commercial and industrial businesses, and other customers through a network of branches, distribution centers, showrooms and digital platforms.

Its product offering includes pipes, valves, fittings, plumbing fixtures, water and wastewater infrastructure products, HVAC equipment, fire protection systems, industrial supplies and related tools and services.