Choreo LLC Lowers Holdings in Ferguson plc (NASDAQ:FERG)

Key Points

• Choreo LLC has decreased its stake in Ferguson plc by 65.4%, selling 3,857 shares and now holding 2,045 shares worth approximately $328,000.
• Ferguson plc reported a quarterly EPS of $2.50, exceeding estimates, with a 4.3% increase in revenue compared to the same quarter last year.
• The company's recent dividend announcement includes a payment of $0.83 per share on August 6th, representing a 1.46% yield.

Choreo LLC decreased its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 65.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,045 shares of the company's stock after selling 3,857 shares during the period. Choreo LLC's holdings in Ferguson were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ferguson by 14.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock worth $928,000 after acquiring an additional 722 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Ferguson by 24.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock worth $544,000 after acquiring an additional 657 shares in the last quarter. Manning & Napier Advisors LLC raised its position in shares of Ferguson by 40.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 35,015 shares of the company's stock worth $5,610,000 after acquiring an additional 10,064 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Ferguson by 3,777.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,450 shares of the company's stock worth $2,810,000 after acquiring an additional 17,000 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its position in shares of Ferguson by 29.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock worth $582,452,000 after acquiring an additional 831,112 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

FERG has been the subject of several research reports. Berenberg Bank reissued a "hold" rating and issued a $215.00 target price on shares of Ferguson in a research report on Thursday, June 5th. Barclays raised their price objective on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group started coverage on Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price objective for the company. Morgan Stanley reaffirmed an "overweight" rating and set a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Finally, Royal Bank Of Canada raised their price objective on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $220.64.

Ferguson Stock Performance

Shares of FERG stock traded down $1.44 on Friday, reaching $221.89. The stock had a trading volume of 1,212,371 shares, compared to its average volume of 1,767,123. The stock has a market cap of $43.75 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $228.80. 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 50 day simple moving average of $213.77 and a 200 day simple moving average of $185.94.

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

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.5%. Ferguson's payout ratio is 41.40%.

Ferguson Company 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.