3,866 Ferguson plc $FERG Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Ferguson plc (NYSE:FERG) by 0.9% during the third quarter, HoldingsChannel.com reports. The firm owned 439,065 shares of the company’s stock after selling 3,866 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Ferguson were worth $97,745,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of FERG. Mirae Asset Global Investments Co. Ltd. acquired a new position in Ferguson during the third quarter valued at approximately $14,988,000. Profund Advisors LLC acquired a new position in shares of Ferguson in the 3rd quarter valued at $372,000. ProShare Advisors LLC bought a new stake in shares of Ferguson in the 3rd quarter valued at $6,694,000. Cidel Asset Management Inc. increased its position in shares of Ferguson by 7.8% in the 3rd quarter. Cidel Asset Management Inc. now owns 1,661 shares of the company’s stock valued at $370,000 after buying an additional 120 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC bought a new stake in shares of Ferguson in the 3rd quarter valued at $310,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of FERG opened at $241.73 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company’s fifty day simple moving average is $224.98 and its 200 day simple moving average is $237.30. Ferguson plc has a 1-year low of $212.13 and a 1-year high of $271.64. The company has a market cap of $46.76 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.66 and a beta of 1.14.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The firm had revenue of $8.75 billion during the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. On average, research analysts forecast that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 21st. Ferguson’s dividend payout ratio is presently 41.83%.

Insider Buying and Selling

In related news, insider Allison Stirrup sold 922 shares of Ferguson stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $225.00, for a total transaction of $207,450.00. Following the completion of the transaction, the insider owned 7,038 shares in the company, valued at approximately $1,583,550. This trade represents a 11.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Murphy sold 1,776 shares of the business’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $224.50, for a total value of $398,712.00. Following the transaction, the insider directly owned 168,440 shares in the company, valued at approximately $37,814,780. This trade represents a 1.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 38,808 shares of company stock worth $8,571,587 in the last 90 days. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

FERG has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price objective on Ferguson from $290.00 to $270.00 and set a “neutral” rating on the stock in a report on Tuesday, September 15th. DA Davidson upped their target price on Ferguson from $278.00 to $284.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reduced their price target on Ferguson from $261.00 to $235.00 in a research report on Thursday, October 8th. Oppenheimer increased their price target on Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Rothschild & Co Redburn raised their price target on Ferguson from $295.00 to $307.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $287.44.

Ferguson Profile

Ferguson plc (NYSE: FERG) is a value-added distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, fire protection and other building and industrial products. The company serves professional contractors, municipalities, commercial and industrial businesses, and other customers through a network of branches, distribution centers, showrooms and digital platforms.

Its product offering includes pipes, valves, fittings, plumbing fixtures, water and wastewater infrastructure products, HVAC equipment, fire protection systems, industrial supplies and related tools and services.