Rhumbline Advisers Sells 3,553 Shares of Ferguson plc $FERG

Rhumbline Advisers trimmed its position in shares of Ferguson plc (NYSE:FERG) by 1.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 211,720 shares of the company’s stock after selling 3,553 shares during the quarter. Rhumbline Advisers owned about 0.11% of Ferguson worth $47,548,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Ferguson in the 2nd quarter worth about $395,401,000. Franklin Resources Inc. lifted its stake in shares of Ferguson by 39.3% in the second quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock worth $926,830,000 after buying an additional 1,201,493 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Ferguson during the 2nd quarter worth approximately $130,650,000. Artisan Partners Limited Partnership grew its holdings in Ferguson by 89.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 759,687 shares of the company’s stock valued at $165,422,000 after buying an additional 358,853 shares in the last quarter. Finally, C WorldWide Group Holding A S grew its holdings in shares of Ferguson by 108.8% in the third quarter. C WorldWide Group Holding A S now owns 535,363 shares of the company’s stock valued at $120,232,000 after purchasing an additional 278,971 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Vertical Research began coverage on shares of Ferguson in a report on Monday, October 20th. They issued a “buy” rating and a $291.99 price objective on the stock. Robert W. Baird boosted their price target on shares of Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Jefferies Financial Group increased their price objective on Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferguson in a report on Friday, January 9th. Finally, UBS Group cut their price target on Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $253.00.

Ferguson Stock Down 0.9%

FERG stock opened at $261.34 on Friday. The company’s 50 day simple moving average is $240.98 and its 200-day simple moving average is $237.61. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $271.64. The firm has a market capitalization of $51.10 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.19 and a beta of 1.18.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. The company had revenue of $8.17 billion for the quarter. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.Ferguson’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.45 EPS.

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be issued a dividend of $0.89 per share. The ex-dividend date is Friday, January 2nd. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. This is an increase from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio is presently 35.96%.

About Ferguson

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.