Cetera Investment Advisers Sells 2,582 Shares of Ferguson plc (NASDAQ:FERG)

Key Points

• Cetera Investment Advisers reduced its holdings in Ferguson plc (NASDAQ:FERG) by 24.7%, owning 7,870 shares, valued at approximately $1.26 million as of the latest SEC filing.
• Ferguson reported a quarterly EPS of $2.50, exceeding estimates by $0.44, with revenue up 4.3% year-over-year, while analysts predict a full-year EPS of 9.4.
• The company recently declared a quarterly dividend of $0.83 per share, resulting in an annualized dividend yield of 1.5% and a payout ratio of 41.40%.

Cetera Investment Advisers lessened its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 24.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,870 shares of the company's stock after selling 2,582 shares during the quarter. Cetera Investment Advisers' holdings in Ferguson were worth $1,261,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. grew its holdings in shares of Ferguson by 1.3% during the 4th quarter. Bessemer Group Inc. now owns 23,615 shares of the company's stock worth $4,099,000 after purchasing an additional 292 shares during the period. Covestor Ltd grew its holdings in shares of Ferguson by 221.9% during the 4th quarter. Covestor Ltd now owns 338 shares of the company's stock worth $59,000 after purchasing an additional 233 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in shares of Ferguson during the 4th quarter worth about $239,000. Giverny Capital Inc. purchased a new stake in shares of Ferguson during the 4th quarter worth about $5,851,000. Finally, Barclays PLC grew its holdings in shares of Ferguson by 208.8% during the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company's stock worth $464,973,000 after purchasing an additional 1,811,287 shares during the period. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

NASDAQ:FERG traded down $1.71 during trading hours on Thursday, reaching $228.15. The company had a trading volume of 842,906 shares, compared to its average volume of 1,721,834. The stock has a 50-day moving average of $220.31 and a two-hundred day moving average of $188.77. Ferguson plc has a one year low of $146.00 and a one year high of $230.38. The firm has a market capitalization of $44.99 billion, a PE ratio of 27.38, a PEG ratio of 1.69 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) 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%. The firm's revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.32 EPS. Analysts forecast that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were issued a $0.83 dividend. The ex-dividend date was Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.5%. Ferguson's dividend payout ratio (DPR) is currently 41.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on FERG shares. Truist Financial reiterated a "buy" rating and set a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. Morgan Stanley restated an "overweight" rating and issued a $220.00 price target (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. Royal Bank Of Canada upped their price target on Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Berenberg Bank restated a "hold" rating and issued a $215.00 price target on shares of Ferguson in a report on Thursday, June 5th. Finally, The Goldman Sachs Group started coverage on Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $220.64.

About Ferguson

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.