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Ferguson plc $FERG Shares Sold by Teca Partners LP

Ferguson logo with Industrials background

Key Points

  • Teca Partners LP has reduced its stake in Ferguson plc by 26.6%, making it the firm's 8th largest holding, valued at approximately $11.66 million.
  • Analyst upgrades have pushed the price targets for Ferguson, with firms like Wells Fargo and Barclays raising their objectives significantly, indicating a consensus rating of "Moderate Buy" and a price target of $220.64.
  • Ferguson recently announced a quarterly dividend of $0.83 per share, reflecting a 1.4% dividend yield with a payout ratio of 41.40%.
  • Looking to export and analyze Ferguson data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Teca Partners LP lowered its position in Ferguson plc (NASDAQ:FERG - Free Report) by 26.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,764 shares of the company's stock after selling 26,335 shares during the quarter. Ferguson makes up approximately 8.4% of Teca Partners LP's holdings, making the stock its 8th biggest position. Teca Partners LP's holdings in Ferguson were worth $11,659,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust lifted its stake in 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 acquiring an additional 141 shares during the last quarter. Whipplewood Advisors LLC increased its holdings in shares of Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after acquiring an additional 130 shares during the last quarter. TD Private Client Wealth LLC increased its holdings 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 valued at $33,000 after acquiring an additional 74 shares during the last quarter. LGT Financial Advisors LLC raised its stake in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after acquiring an additional 102 shares in the last quarter. Finally, Brooklyn Investment Group lifted its holdings in Ferguson by 103.6% in the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after purchasing an additional 115 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Price Performance

Shares of NASDAQ:FERG traded down $1.17 on Thursday, hitting $233.95. The stock had a trading volume of 778,898 shares, compared to its average volume of 1,685,232. The firm's 50 day moving average price is $224.35 and its 200-day moving average price is $192.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $238.16. The company has a market capitalization of $46.13 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its 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 net margin of 5.68% and a return on equity of 34.63%. The firm's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.32 earnings per share. On average, equities research analysts predict that Ferguson plc will post 9.4 earnings per share for the current year.

Wall Street Analyst Weigh In

FERG has been the topic of several analyst reports. Barclays increased their price target on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Wells Fargo & Company raised their target price on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Truist Financial reissued a "buy" rating and set a $230.00 target price on shares of Ferguson in a research report on Wednesday, June 4th. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 price target (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Finally, Berenberg Bank reissued a "hold" rating and set a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $220.64.

View Our Latest Report on FERG

Ferguson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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