Amundi Lowers Stake in Ferguson plc $FERG

Key Points

• Amundi reduced its Ferguson stake by 19.2% in the second quarter, selling 253,184 shares and retaining 1.07 million shares worth approximately $253.4 million. Institutional investors collectively own 81.98% of the company.
• Ferguson reported quarterly earnings of $3.39 per share, exceeding the $3.23 consensus estimate, on revenue of $8.75 billion. The company also declared a quarterly dividend of $0.89 per share, equivalent to a 1.6% annual yield.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $285.57, versus a recent price of $228.53.

Amundi cut its holdings in Ferguson plc (NYSE:FERG - Free Report) by 19.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,067,886 shares of the company's stock after selling 253,184 shares during the quarter. Amundi owned about 0.55% of Ferguson worth $253,430,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. California State Teachers Retirement System increased its position in Ferguson by 23,684.2% in the 2nd quarter. California State Teachers Retirement System now owns 69,745,828 shares of the company's stock valued at $16,552,777,000 after acquiring an additional 69,452,584 shares during the period. Wellington Management Group LLP raised its stake in Ferguson by 150.8% during the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company's stock valued at $2,085,256,000 after acquiring an additional 5,631,554 shares during the last quarter. Jupiter Topco LLC acquired a new stake in Ferguson during the 2nd quarter worth approximately $1,789,368,000. Janus Henderson Group PLC lifted its position in Ferguson by 2.1% during the 1st quarter. Janus Henderson Group PLC now owns 6,107,108 shares of the company's stock worth $1,424,075,000 after acquiring an additional 125,317 shares during the period. Finally, State Street Corp grew its stake in shares of Ferguson by 1.8% in the 4th quarter. State Street Corp now owns 4,516,764 shares of the company's stock valued at $1,005,567,000 after purchasing an additional 79,296 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ferguson

In related news, insider Jake Schlicher sold 5,177 shares of the firm'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 owned 9,490 shares in the company, valued at $2,191,430.80. This trade represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by company insiders.

Ferguson Stock Up 0.1%

FERG opened at $228.53 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The stock has a market capitalization of $44.21 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.58 and a beta of 1.13. The business has a 50 day simple moving average of $235.33 and a 200-day simple moving average of $237.85.

Ferguson (NYSE:FERG - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $8.75 billion for the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. On average, equities analysts anticipate that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson Announces Dividend

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

Analysts Set New Price Targets

FERG has been the topic of a number of recent research reports. Robert W. Baird boosted their target price on Ferguson from $285.00 to $288.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Zelman & Associates raised Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 price target for the company in a report on Friday, July 17th. Jefferies Financial Group set a $295.00 price objective on shares of Ferguson in a research report on Thursday. Oppenheimer boosted their price objective on shares of Ferguson from $280.00 to $288.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. Finally, Barclays upped their price objective on shares of Ferguson from $297.00 to $313.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $285.57.

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.

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