Bessemer Group Inc. Sells 18,836 Shares of Ferguson plc (NASDAQ:FERG)

Bessemer Group Inc. cut its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 79.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,779 shares of the company's stock after selling 18,836 shares during the quarter. Bessemer Group Inc.'s holdings in Ferguson were worth $766,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Mission Wealth Management LP boosted its position in Ferguson by 2.2% during the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock valued at $489,000 after buying an additional 67 shares during the period. James Hambro & Partners LLP lifted its position in Ferguson by 1.1% in the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock valued at $1,011,000 after purchasing an additional 70 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Ferguson by 6.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after purchasing an additional 74 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Ferguson by 1.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company's stock worth $1,109,000 after purchasing an additional 80 shares during the last quarter. Finally, Assetmark Inc. increased its stake in shares of Ferguson by 41.1% in the fourth quarter. Assetmark Inc. now owns 333 shares of the company's stock worth $58,000 after buying an additional 97 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group increased their price target on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Morgan Stanley reiterated an "overweight" rating and issued a $220.00 price objective (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Robert W. Baird set a $190.00 price target on Ferguson and gave the stock an "outperform" rating in a research note on Wednesday, March 12th. The Goldman Sachs Group began coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price objective on the stock. Finally, Oppenheimer raised their target price on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $221.27.

Ferguson Stock Up 0.8%

NASDAQ:FERG traded up $1.76 during trading hours on Friday, reaching $223.16. 1,075,399 shares of the company traded hands, compared to its average volume of 1,676,862. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The business's 50-day moving average price is $195.61 and its two-hundred day moving average price is $179.62. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $225.63. The stock has a market capitalization of $44.00 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same period last year, the firm posted $2.32 earnings per share. The company's revenue was up 4.3% compared to the same quarter last year. Analysts predict that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's payout ratio is 41.40%.

Ferguson Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.