Martingale Asset Management L P Lowers Stock Holdings in Ferguson plc (NASDAQ:FERG)

Martingale Asset Management L P lowered its stake in shares of Ferguson plc (NASDAQ:FERG) by 11.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 109,915 shares of the company’s stock after selling 13,969 shares during the period. Martingale Asset Management L P’s holdings in Ferguson were worth $21,826,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Ferguson by 3.5% during the 3rd quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after acquiring an additional 288,935 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Ferguson by 375.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after acquiring an additional 4,966,821 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Ferguson by 10.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock valued at $302,781,000 after acquiring an additional 153,757 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Ferguson by 423.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock worth $290,475,000 after purchasing an additional 1,183,143 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Ferguson by 5.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,412,652 shares of the company’s stock worth $280,510,000 after purchasing an additional 79,152 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Trading Up 0.4 %

Shares of NASDAQ:FERG opened at $213.27 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The stock has a market capitalization of $42.81 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.07 and a beta of 1.20. Ferguson plc has a 1-year low of $166.21 and a 1-year high of $225.63. The company has a 50 day moving average price of $201.47 and a 200 day moving average price of $202.59.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The company had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the prior year, the firm earned $2.77 EPS. The company’s revenue was up 1.4% compared to the same quarter last year. On average, research analysts anticipate that Ferguson plc will post 9.77 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a dividend of $0.79 per share. The ex-dividend date was Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.48%. Ferguson’s dividend payout ratio (DPR) is 37.05%.

Insider Activity at Ferguson

In related news, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.75, for a total value of $267,318.75. Following the transaction, the chief accounting officer now directly owns 1,000 shares in the company, valued at approximately $201,750. This trade represents a 56.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the transaction, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. The trade was a 70.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FERG. Citigroup lifted their price objective on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their price objective on Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price target on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer began coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target for the company. Finally, UBS Group boosted their price target on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $233.38.

About Ferguson

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.