Mitsubishi UFJ Trust & Banking Corp Lowers Stock Position in Ferguson plc $FERG

Mitsubishi UFJ Trust & Banking Corp reduced its position in Ferguson plc (NYSE:FERG) by 4.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 101,714 shares of the company’s stock after selling 4,930 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of Ferguson worth $22,148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in FERG. True Wealth Design LLC increased its stake in Ferguson by 145.3% during the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after acquiring an additional 77 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the period. Fifth Third Bancorp grew its holdings in shares of Ferguson by 230.8% during the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after purchasing an additional 120 shares during the period. Maseco LLP acquired a new stake in Ferguson during the 2nd quarter worth approximately $40,000. Finally, Brooklyn Investment Group raised its holdings in Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock valued at $36,000 after buying an additional 115 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of Ferguson stock opened at $242.38 on Friday. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $256.93. The firm has a market capitalization of $47.50 billion, a P/E ratio of 25.95, a PEG ratio of 2.05 and a beta of 1.18. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The firm’s 50-day simple moving average is $236.81.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.48. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.44 billion.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, September 26th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s dividend payout ratio (DPR) is presently 35.55%.

Insiders Place Their Bets

In related news, insider James A. Paisley sold 3,000 shares of Ferguson stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total value of $710,910.00. Following the completion of the sale, the insider owned 2,211 shares in the company, valued at approximately $523,940.67. The trade was a 57.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Richard Winckler sold 1,034 shares of the stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $232.70, for a total transaction of $240,611.80. Following the transaction, the chief accounting officer owned 1,458 shares in the company, valued at $339,276.60. This trade represents a 41.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 29,264 shares of company stock valued at $6,853,349. 0.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FERG has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. Zacks Research upgraded shares of Ferguson to a “hold” rating in a report on Friday, August 8th. Truist Financial increased their price target on Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Vertical Research assumed coverage on Ferguson in a research report on Monday, October 20th. They issued a “buy” rating and a $291.99 price objective on the stock. Finally, Barclays upped their target price on Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $243.75.

Ferguson Company Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.