Ferguson plc $FERG Shares Sold by First Trust Advisors LP

Key Points

• First Trust Advisors LP cut its stake in Ferguson by 19.6%, selling 106,045 shares and leaving it with 434,365 shares valued at about $97.55 million; institutional investors now own roughly 81.98% of the stock.
• Ferguson missed quarterly EPS ($1.99 vs. $2.24 expected) while revenue rose 3.6% year-over-year; the company has a market cap of $44.83 billion, a P/E of 23.28 and a 52-week range of $146.00–$271.64.
• The board declared a quarterly dividend of $0.89 (annualized $3.56, yield 1.5%, ex-dividend March 6), and analysts maintain a consensus rating of "Moderate Buy" with an average price target of $262.62 as several firms raised their targets recently.

First Trust Advisors LP reduced its holdings in Ferguson plc (NYSE:FERG - Free Report) by 19.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,365 shares of the company's stock after selling 106,045 shares during the quarter. First Trust Advisors LP owned 0.22% of Ferguson worth $97,550,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Daymark Wealth Partners LLC lifted its position in shares of Ferguson by 4.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 992 shares of the company's stock valued at $223,000 after acquiring an additional 44 shares during the last quarter. Smithfield Trust Co grew its holdings in shares of Ferguson by 3.5% in the 2nd quarter. Smithfield Trust Co now owns 1,342 shares of the company's stock worth $291,000 after acquiring an additional 46 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company's stock worth $150,000 after acquiring an additional 48 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Ferguson by 21.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company's stock worth $66,000 after purchasing an additional 52 shares during the period. Finally, Net Worth Advisory Group lifted its holdings in shares of Ferguson by 4.5% during the third quarter. Net Worth Advisory Group now owns 1,314 shares of the company's stock valued at $295,000 after purchasing an additional 56 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Price Performance

Shares of FERG opened at $230.47 on Tuesday. The business's 50-day moving average is $248.73 and its 200-day moving average is $240.70. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The company has a market capitalization of $44.83 billion, a price-to-earnings ratio of 23.28 and a beta of 1.17. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $271.64.

Ferguson (NYSE:FERG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing analysts' consensus estimates of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. During the same quarter in the previous year, the company earned $1.52 EPS. The firm's revenue was up 3.6% on a year-over-year basis.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be paid a $0.89 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson's payout ratio is 35.96%.

Analyst Ratings Changes

A number of brokerages recently weighed in on FERG. UBS Group lifted their price target on Ferguson from $220.00 to $252.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 25th. Royal Bank Of Canada upped their price objective on shares of Ferguson from $247.00 to $271.00 and gave the company an "outperform" rating in a research note on Tuesday, February 24th. Barclays raised their target price on shares of Ferguson from $278.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Wall Street Zen lowered shares of Ferguson from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Ferguson from $237.00 to $246.00 and gave the company a "hold" rating in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and an average price target of $262.62.

Ferguson Profile

Ferguson NYSE: FERG is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.

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