Madison Asset Management LLC Sells 17,675 Shares of Ferguson plc $FERG

Madison Asset Management LLC lessened its stake in Ferguson plc (NYSE:FERG) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 442,545 shares of the company’s stock after selling 17,675 shares during the quarter. Ferguson makes up approximately 1.1% of Madison Asset Management LLC’s portfolio, making the stock its 29th biggest holding. Madison Asset Management LLC’s holdings in Ferguson were worth $99,387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Baader Bank Aktiengesellschaft lifted its position in shares of Ferguson by 3.4% during the 3rd quarter. Baader Bank Aktiengesellschaft now owns 61,001 shares of the company’s stock valued at $13,700,000 after buying an additional 2,001 shares during the last quarter. REAP Financial Group LLC purchased a new stake in Ferguson during the third quarter valued at about $85,000. Candriam S.C.A. lifted its holdings in Ferguson by 0.8% during the third quarter. Candriam S.C.A. now owns 61,882 shares of the company’s stock valued at $13,897,000 after purchasing an additional 515 shares during the last quarter. AdvisorShares Investments LLC boosted its position in Ferguson by 40.4% during the third quarter. AdvisorShares Investments LLC now owns 375 shares of the company’s stock worth $84,000 after purchasing an additional 108 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its stake in shares of Ferguson by 40.3% in the third quarter. Azzad Asset Management Inc. ADV now owns 21,939 shares of the company’s stock worth $4,927,000 after purchasing an additional 6,307 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a research report on Tuesday, January 6th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on Ferguson from $237.00 to $246.00 and gave the company a “hold” rating in a research note on Thursday, December 11th. Finally, Vertical Research started coverage on Ferguson in a research note 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 assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $253.00.

Ferguson Trading Up 0.7%

Shares of Ferguson stock opened at $263.33 on Wednesday. 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 1 year low of $146.00 and a 1 year high of $265.00. The firm has a market cap of $51.49 billion, a PE ratio of 26.60, a PEG ratio of 2.17 and a beta of 1.18. The company has a 50 day simple moving average of $240.16 and a two-hundred day simple moving average of $236.97.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.07. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The firm had revenue of $8.17 billion for the quarter. During the same quarter last year, the business posted $2.45 EPS. The business’s quarterly revenue was up 5.1% compared to the same quarter last year.

Ferguson Increases Dividend

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