4,594 Ferguson plc $FERG Shares Sold by Argent Capital Management LLC

Key Points

• Argent Capital Management reduced its Ferguson stake by 3.6% in the third quarter, selling 4,594 shares and retaining 123,581 shares valued at approximately $27.5 million. Institutional investors collectively own 81.98% of the company.
• Ferguson shares rose 0.4% to $224.22, while the company’s latest quarterly results exceeded expectations with adjusted earnings of $3.39 per share versus the $3.23 consensus estimate on $8.75 billion in revenue.
• The company declared a quarterly dividend of $0.89 per share, equivalent to an annualized $3.56 payout and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $285.57.

Argent Capital Management LLC lessened its position in shares of Ferguson plc (NYSE:FERG - Free Report) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,581 shares of the company's stock after selling 4,594 shares during the quarter. Ferguson comprises 0.2% of Argent Capital Management LLC's portfolio, making the stock its 29th biggest holding. Argent Capital Management LLC owned approximately 0.06% of Ferguson worth $27,512,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Compass Financial Management LLC bought a new position in shares of Ferguson during the 2nd quarter valued at approximately $32,000. Eastern Bank bought a new position in Ferguson during the second quarter valued at $42,000. Vega Investment Solutions grew its stake in shares of Ferguson by 50.5% in the 2nd quarter. Vega Investment Solutions now owns 277 shares of the company's stock worth $66,000 after buying an additional 93 shares in the last quarter. Keating Financial Advisory Services Inc. grew its stake in shares of Ferguson by 93.5% in the 2nd quarter. Keating Financial Advisory Services Inc. now owns 296 shares of the company's stock worth $70,000 after buying an additional 143 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Ferguson by 26.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 300 shares of the company's stock valued at $67,000 after buying an additional 62 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Ferguson Trading Up 0.4%

FERG traded up $0.89 during trading hours on Monday, reaching $224.22. 531,765 shares of the company's stock traded hands, compared to its average volume of 1,701,246. The firm has a 50-day moving average price of $232.06 and a 200 day moving average price of $234.65. Ferguson plc has a 52-week low of $212.13 and a 52-week high of $271.64. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $43.38 billion, a PE ratio of 26.34, a PEG ratio of 1.55 and a beta of 1.14.

Ferguson (NYSE:FERG - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The business had revenue of $8.75 billion for the quarter. As a group, sell-side analysts predict that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be issued a dividend of $0.89 per share. The ex-dividend date is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. Ferguson's dividend payout ratio (DPR) is presently 41.83%.

Insiders Place Their Bets

In other Ferguson news, insider Jake Schlicher sold 5,177 shares of the business's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $230.92, for a total value of $1,195,472.84. Following the completion of the sale, the insider directly owned 9,490 shares of the company's stock, valued at $2,191,430.80. The trade was a 35.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Royal Bank Of Canada increased their price target on shares of Ferguson from $281.00 to $290.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Barclays lifted their target price on Ferguson from $297.00 to $313.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. Robert W. Baird increased their price target on Ferguson from $285.00 to $288.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Wells Fargo & Company lifted their price objective on shares of Ferguson from $285.00 to $295.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $261.00 price objective on shares of Ferguson in a research report on Tuesday, August 18th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Ferguson presently has an average rating of "Moderate Buy" and an average target price of $285.57.

Ferguson Company Profile

Ferguson plc NYSE: FERG is a North American distributor of plumbing and heating products, supplying professional customers across the residential, commercial, industrial and infrastructure markets. The company serves contractors, builders, remodelers, municipalities, industrial businesses and other trade professionals through branch locations, distribution centers and digital ordering platforms.

Its product offerings include plumbing supplies and fixtures, heating and cooling equipment, water and wastewater products, fire protection systems, waterworks materials, industrial piping and related maintenance, repair and operating supplies.

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