Envestnet Portfolio Solutions Inc. Has $465,000 Stock Position in Ferguson plc $FERG

Key Points

• Envestnet Portfolio Solutions Inc. has significantly reduced its stake in Ferguson plc by 68.3%, now holding shares worth approximately $465,000.
• Ferguson recently announced a quarterly dividend of $0.83, with an annualized yield of 1.4%, to be paid on November 7th.
• Equities analysts have a mostly positive outlook on Ferguson, with Oppenheimer and Truist Financial raising their price targets for the stock, reflecting a consensus rating of "Moderate Buy".

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 68.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,135 shares of the company's stock after selling 4,591 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Ferguson were worth $465,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Hemington Wealth Management raised its holdings in Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock worth $33,000 after buying an additional 52 shares during the period. US Bancorp DE grew its stake in shares of Ferguson by 0.8% during the 1st quarter. US Bancorp DE now owns 7,394 shares of the company's stock worth $1,185,000 after acquiring an additional 59 shares in the last quarter. Compound Planning Inc. grew its stake in shares of Ferguson by 4.6% during the 1st quarter. Compound Planning Inc. now owns 1,386 shares of the company's stock worth $222,000 after acquiring an additional 61 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Finally, Cidel Asset Management Inc. grew its stake in shares of Ferguson by 6.5% during the 1st quarter. Cidel Asset Management Inc. now owns 1,284 shares of the company's stock worth $206,000 after acquiring an additional 78 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Trading Up 1.1%

NYSE:FERG opened at $244.77 on Wednesday. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $246.65. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average price of $231.19. The company has a market capitalization of $47.97 billion, a PE ratio of 26.21, a PEG ratio of 1.99 and a beta of 1.17.

Ferguson (NYSE:FERG - Get Free Report) last released its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The business had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.44 billion.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. Ferguson's dividend payout ratio (DPR) is currently 35.55%.

Insiders Place Their Bets

In related news, insider Kevin Michael Murphy sold 8,800 shares of the firm's stock in a transaction on Monday, October 13th. The shares were sold at an average price of $234.13, for a total value of $2,060,344.00. Following the completion of the transaction, the insider directly owned 159,931 shares of the company's stock, valued at approximately $37,444,645.03. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ian T. Graham sold 4,864 shares of Ferguson stock in a transaction on Monday, October 13th. The stock was sold at an average price of $233.22, for a total transaction of $1,134,382.08. Following the transaction, the insider directly owned 7,769 shares of the company's stock, valued at approximately $1,811,886.18. This trade represents a 38.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,264 shares of company stock valued at $6,853,349 in the last ninety days. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FERG shares. Oppenheimer raised their price target on shares of Ferguson from $235.00 to $255.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Truist Financial raised their price target on shares of Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Vertical Research started coverage on shares of Ferguson in a research note on Monday. They set a "buy" rating and a $291.99 price target for the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Ferguson in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their price target on shares of Ferguson from $231.00 to $243.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $240.80.

Ferguson Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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