Ferguson plc (NASDAQ:FERG) Shares Sold by Blueshift Asset Management LLC

Blueshift Asset Management LLC lessened its stake in Ferguson plc (NASDAQ:FERG) by 20.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,807 shares of the company’s stock after selling 966 shares during the quarter. Blueshift Asset Management LLC’s holdings in Ferguson were worth $756,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FERG. Asset Dedication LLC purchased a new position in Ferguson during the third quarter worth about $27,000. EdgeRock Capital LLC purchased a new stake in Ferguson during the 2nd quarter worth about $32,000. Capital Performance Advisors LLP acquired a new position in Ferguson during the 3rd quarter worth approximately $37,000. Peterson Financial Group Inc. acquired a new stake in shares of Ferguson in the 3rd quarter valued at $39,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Ferguson during the 3rd quarter worth $40,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the completion of the transaction, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at $201,750. This trade represents a 56.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. This trade represents a 70.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on FERG. Barclays upped their price objective on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Oppenheimer began coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective for the company. Royal Bank of Canada upped their target price on shares of Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Robert W. Baird lifted their price target on shares of Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Citigroup upped their price objective on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.38.

Ferguson Stock Performance

NASDAQ FERG opened at $213.27 on Thursday. The firm has a market cap of $42.81 billion, a P/E ratio of 21.93, a P/E/G ratio of 2.06 and a beta of 1.20. Ferguson plc has a 52-week low of $166.21 and a 52-week high of $225.63. The business’s 50-day moving average price is $201.32 and its 200 day moving average price is $202.52. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.86 by $0.12. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.77 earnings per share. On average, equities research analysts expect that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, September 27th. Ferguson’s dividend payout ratio is currently 37.05%.

About Ferguson

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.