Blair William & Co. IL Cuts Stake in Ferguson plc (NASDAQ:FERG)

Key Points

• Blair William & Co. IL reduced its stake in Ferguson plc by 41.4%, now holding 40,605 shares worth approximately $6.5 million after selling 28,673 shares in the first quarter.
• Ferguson reported a quarterly earnings per share (EPS) of $2.50, exceeding expectations of $2.06, with a year-over-year revenue increase of 4.3%.
• The company declared a quarterly dividend of $0.83, with an annualized yield of 1.5%, and a payout ratio of 41.40%.

Blair William & Co. IL reduced its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 41.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,605 shares of the company's stock after selling 28,673 shares during the period. Blair William & Co. IL's holdings in Ferguson were worth $6,506,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Grove Bank & Trust lifted its stake in shares of Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after buying an additional 141 shares in the last quarter. Whipplewood Advisors LLC raised its stake in shares of Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after purchasing an additional 130 shares during the period. TD Private Client Wealth LLC boosted its stake in 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 during the last quarter. LGT Financial Advisors LLC grew its holdings in Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 102 shares during the period. Finally, LRI Investments LLC purchased a new stake in Ferguson in the 1st quarter worth about $46,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Down 0.2%

Shares of FERG traded down $0.49 on Friday, hitting $224.27. 59,029 shares of the stock traded hands, compared to its average volume of 1,733,684. Ferguson plc has a one year low of $146.00 and a one year high of $228.80. The business has a 50 day simple moving average of $218.09 and a 200 day simple moving average of $187.59. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The company has a market capitalization of $44.22 billion, a PE ratio of 26.92, a P/E/G ratio of 1.69 and a beta of 1.16.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating 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%. Ferguson's revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.32 EPS. As a group, equities analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson's payout ratio is presently 41.40%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FERG shares. Royal Bank Of Canada increased their target price on Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Oppenheimer increased their target price on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group began coverage on Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, UBS Group lifted their price target on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Ferguson currently has an average rating of "Moderate Buy" and a consensus target price of $220.64.

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.