Andra AP fonden Sells 19,100 Shares of Ferguson plc $FERG

Key Points

• Andra AP fonden reduced its Ferguson stake by 36.5% in the second quarter, selling 19,100 shares and retaining 33,200 shares worth approximately $7.9 million. Institutional investors collectively own 81.98% of the company.
• Ferguson reported quarterly earnings of $3.39 per share, exceeding analyst expectations of $3.23, on revenue of $8.75 billion. The company also declared a quarterly dividend of $0.89 per share, representing a 1.6% annualized yield.
• Analysts maintain a “Moderate Buy” consensus on Ferguson, with an average price target of $285.57 compared with the stock’s reported $221.33 opening price.

Andra AP fonden cut its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 36.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,200 shares of the company's stock after selling 19,100 shares during the period. Andra AP fonden's holdings in Ferguson were worth $7,879,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp raised its position in Ferguson by 1.1% during the 2nd quarter. State Street Corp now owns 4,619,995 shares of the company's stock worth $1,100,474,000 after purchasing an additional 48,544 shares during the last quarter. Tidal Investments LLC grew its holdings in Ferguson by 3.3% in the second quarter. Tidal Investments LLC now owns 15,752 shares of the company's stock worth $3,738,000 after purchasing an additional 502 shares during the period. National Pension Service grew its stake in shares of Ferguson by 1.2% in the 2nd quarter. National Pension Service now owns 337,408 shares of the company's stock valued at $80,077,000 after buying an additional 3,849 shares during the period. WINTON GROUP Ltd acquired a new stake in Ferguson in the second quarter valued at approximately $2,183,000. Finally, Cidel Asset Management Inc. increased its stake in Ferguson by 3.8% during the 2nd quarter. Cidel Asset Management Inc. now owns 1,541 shares of the company's stock valued at $366,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Ferguson Trading Up 2.4%

Shares of FERG opened at $221.33 on Wednesday. The firm has a 50 day moving average price of $233.18 and a 200-day moving average price of $234.95. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. Ferguson plc has a fifty-two week low of $212.13 and a fifty-two week high of $271.64. The firm has a market cap of $42.82 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.50 and a beta of 1.13.

Ferguson (NYSE:FERG - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The company had revenue of $8.75 billion during the quarter. As a group, equities research analysts forecast that Ferguson plc will post 11.42 earnings per share for the current year.

Ferguson Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on FERG shares. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $261.00 price objective on shares of Ferguson in a report on Tuesday, August 18th. Sanford C. Bernstein lifted their price objective on shares of Ferguson from $310.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Zelman & Associates raised Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 price objective for the company in a report on Friday, July 17th. Barclays boosted their target price on shares of Ferguson from $297.00 to $313.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada increased their price target on shares of Ferguson from $281.00 to $290.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Two research 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 company. Based on data from MarketBeat, Ferguson currently has a consensus rating of "Moderate Buy" and a consensus price target of $285.57.

Insider Buying and Selling

In related news, insider Jake Schlicher sold 5,177 shares of Ferguson stock in a transaction on 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 sale, the insider owned 9,490 shares in the company, valued at $2,191,430.80. The trade was a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is owned by insiders.

Ferguson Profile

Ferguson plc NYSE: FERG is a value-added distributor of plumbing and heating products, water and wastewater solutions, fire protection equipment, HVAC supplies, and related products. The company primarily serves professional contractors and other trade customers, helping them source products, obtain technical support, and manage projects through its distribution network and digital platforms.

Ferguson operates mainly in North America, with businesses serving residential and commercial construction, infrastructure, facilities maintenance, and industrial markets in the United States and Canada.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.