Shell Asset Management Co. Sells 19,666 Shares of Ferguson plc $FERG

Shell Asset Management Co. trimmed its position in shares of Ferguson plc (NYSE:FERG) by 73.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,220 shares of the company’s stock after selling 19,666 shares during the quarter. Shell Asset Management Co.’s holdings in Ferguson were worth $1,621,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ferguson by 23.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock valued at $2,445,000 after purchasing an additional 2,940 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of Ferguson during the first quarter valued at about $310,000. Focus Partners Wealth increased its position in shares of Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after acquiring an additional 581 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Ferguson during the second quarter worth about $257,000. Finally, CWM LLC raised its holdings in shares of Ferguson by 18.5% in the 2nd quarter. CWM LLC now owns 11,592 shares of the company’s stock worth $2,524,000 after acquiring an additional 1,810 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Barclays upped their price target on Ferguson from $267.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Robert W. Baird raised their price objective on Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferguson in a research note on Thursday, January 8th. Finally, Vertical Research began coverage on shares of Ferguson in a report on Monday, October 20th. They issued a “buy” rating and a $291.99 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $253.00.

Ferguson Stock Performance

NYSE FERG opened at $261.34 on Monday. The company has a market capitalization of $51.10 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.17 and a beta of 1.17. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $271.64. The company has a 50-day simple moving average of $240.98 and a 200 day simple moving average of $237.77.

Ferguson (NYSE:FERG) last released 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 firm had revenue of $8.17 billion during the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.45 earnings per share.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be paid a $0.89 dividend. The ex-dividend date is Friday, January 2nd. This is a boost from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. Ferguson’s dividend payout ratio is presently 35.96%.

Ferguson Profile

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.