Allianz Asset Management GmbH Sells 57,151 Shares of Ferguson plc $FERG

Key Points

• Allianz Asset Management GmbH has reduced its stake in Ferguson plc by 17.6%, selling 57,151 shares during the second quarter, leaving it with 266,943 shares valued at approximately $58 million.
• A range of institutional investors have adjusted their positions in Ferguson, with Hemington Wealth Management increasing its holdings by 51.5% during the same period.
• The company recently announced a quarterly dividend of $0.83 per share, with a scheduled payment date of November 7th, representing a 1.4% dividend yield.

Allianz Asset Management GmbH reduced its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 17.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 266,943 shares of the company's stock after selling 57,151 shares during the period. Allianz Asset Management GmbH owned about 0.14% of Ferguson worth $58,127,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hemington Wealth Management increased its holdings in Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock worth $33,000 after purchasing an additional 52 shares in the last quarter. US Bancorp DE increased its holdings in Ferguson by 0.8% during the 1st quarter. US Bancorp DE now owns 7,394 shares of the company's stock worth $1,185,000 after purchasing an additional 59 shares in the last quarter. Compound Planning Inc. grew its holdings in shares of Ferguson by 4.6% in the first quarter. Compound Planning Inc. now owns 1,386 shares of the company's stock valued at $222,000 after acquiring an additional 61 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in shares of Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Finally, Cidel Asset Management Inc. grew its holdings in shares of Ferguson by 6.5% in the first quarter. Cidel Asset Management Inc. now owns 1,284 shares of the company's stock valued at $206,000 after acquiring an additional 78 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FERG. Robert W. Baird upped their target price on Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Truist Financial upped their target price on Ferguson from $240.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Oppenheimer upped their target price on Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ferguson in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered Ferguson from a "buy" rating to a "hold" rating in a report on Sunday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $237.14.

Insider Activity

In other Ferguson news, CAO Richard Winckler sold 1,034 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $232.70, for a total transaction of $240,611.80. Following the sale, the chief accounting officer owned 1,458 shares in the company, valued at $339,276.60. This represents a 41.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ian T. Graham sold 606 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $239.33, for a total value of $145,033.98. Following the sale, the insider owned 7,714 shares in the company, valued at approximately $1,846,191.62. This represents a 7.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,264 shares of company stock valued at $6,853,349. 0.16% of the stock is currently owned by corporate insiders.

Ferguson Trading Up 0.6%

Ferguson stock opened at $237.02 on Friday. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $243.40. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. The firm has a 50 day moving average price of $230.41. The stock has a market capitalization of $46.45 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, beating the consensus estimate of $3.00 by $0.48. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.44 billion.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. Ferguson's dividend payout ratio is currently 35.55%.

Ferguson Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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