Cresset Asset Management LLC Trims Stake in Ferguson plc (NASDAQ:FERG)

Cresset Asset Management LLC decreased its position in shares of Ferguson plc (NASDAQ:FERG) by 65.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,158 shares of the company’s stock after selling 11,657 shares during the period. Cresset Asset Management LLC’s holdings in Ferguson were worth $1,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Manchester Capital Management LLC grew its stake in shares of Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after buying an additional 136 shares during the last quarter. LGT Financial Advisors LLC grew its stake in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock worth $34,000 after buying an additional 102 shares during the last quarter. Berbice Capital Management LLC purchased a new stake in shares of Ferguson in the 4th quarter worth approximately $35,000. R Squared Ltd purchased a new stake in shares of Ferguson in the 4th quarter worth approximately $45,000. Finally, Private Trust Co. NA grew its stake in shares of Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock worth $45,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

FERG has been the topic of several analyst reports. Oppenheimer lowered their price objective on Ferguson from $234.00 to $189.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Ferguson in a research report on Tuesday, April 1st. They issued a “hold” rating and a $174.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Ferguson from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $189.00 price objective on shares of Ferguson in a research report on Tuesday, March 18th. Finally, Zelman & Associates cut Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $199.38.

Ferguson Stock Up 0.1%

Shares of NASDAQ:FERG opened at $171.24 on Monday. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $225.63. The business has a 50 day simple moving average of $163.79 and a two-hundred day simple moving average of $179.98. The firm has a market capitalization of $34.24 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $6.76 billion. During the same period in the prior year, the firm posted $1.74 EPS. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts predict that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Friday, March 21st. Ferguson’s dividend payout ratio is presently 40.84%.

Ferguson 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.