Ferguson plc $FERG Shares Sold by Legal & General Group Plc

Key Points

• Legal & General trimmed its stake in Ferguson by 2.7%, selling 40,985 shares and now holds 1,505,034 shares (~0.77% of the company) valued at about $337.7 million; institutional investors own roughly 81.98% of the stock.
• Ferguson posted an earnings miss with $1.99 EPS vs. $2.24 expected while revenue rose 3.6% year-over-year, but several analysts have raised price targets and the consensus rating is a "Moderate Buy" with an average target of $268.93.
• The company declared a quarterly dividend of $0.89 per share (annualized $3.56, yield ~1.5%; ex-dividend Mar 6, payable Apr 30), and the stock trades near $231.45 with a market cap of about $45.0 billion and a P/E of 23.38.

Legal & General Group Plc reduced its position in shares of Ferguson plc (NYSE:FERG - Free Report) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,505,034 shares of the company's stock after selling 40,985 shares during the period. Legal & General Group Plc owned approximately 0.77% of Ferguson worth $337,728,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its position in Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company's stock worth $31,000 after purchasing an additional 82 shares during the period. Quent Capital LLC acquired a new stake in shares of Ferguson in the 3rd quarter valued at approximately $43,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Ferguson by 21.7% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company's stock valued at $66,000 after buying an additional 52 shares during the period. CX Institutional boosted its stake in shares of Ferguson by 9,900.0% in the third quarter. CX Institutional now owns 300 shares of the company's stock valued at $67,000 after buying an additional 297 shares in the last quarter. Finally, Mendota Financial Group LLC purchased a new stake in shares of Ferguson in the third quarter valued at approximately $69,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Performance

NYSE FERG opened at $231.45 on Thursday. The business has a 50 day moving average price of $248.96 and a 200 day moving average price of $240.60. The company has a market capitalization of $45.02 billion, a P/E ratio of 23.38, a PEG ratio of 1.83 and a beta of 1.17. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01.

Ferguson (NYSE:FERG - Get Free Report) last posted its earnings results 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 return on equity of 40.37% and a net margin of 6.93%.Ferguson's revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.52 EPS.

Ferguson Dividend Announcement

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

Ferguson News Roundup

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Big drop in short interest — Short interest fell ~34% in late February to ~1.79M shares (0.9% of float), lowering the short-interest ratio to ~1.1 days. Reduced short exposure can remove downside selling pressure and limit squeeze risk.
• Positive Sentiment: Technical/analyst note flags oversold conditions and upward estimate revisions — A Zacks piece highlights that FERG lost ~13.6% in four weeks and is trading in oversold territory; the article also notes analysts have been revising earnings estimates higher, which could set up a technical bounce or trend reversal. Zacks: Trend Reversal May Be Around the Corner
• Neutral Sentiment: Rebecca Ferguson (actor) confirms Silo Season 3 release window — Entertainment coverage (MSN/Yahoo/IDropNews) around the actress Rebecca Ferguson and her Apple TV series does not relate to Ferguson plc’s business or financials. Rebecca Ferguson Confirms Silo Season 3 Release Date
• Neutral Sentiment: Other celebrity/press items mentioning “Ferguson” — Multiple celebrity stories (Sarah Ferguson / Priscilla Presley / media gossip) and a NYT piece about footballer Evan Ferguson are in the feed but are unrelated to Ferguson plc’s performance. Example: NYT soccer profile. NYT: Evan Ferguson & Kaoru Mitoma
• Negative Sentiment: Recent quarterly earnings miss remains a headwind — Ferguson reported $1.99 EPS for the quarter (missed consensus ~$2.24) despite modest revenue growth. That earnings shortfall and any guidance implications can keep pressure on the shares until upcoming results or clearer margin recovery.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Ferguson in a research report on Thursday, January 22nd. Oppenheimer boosted their target price on shares of Ferguson from $255.00 to $280.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 25th. Royal Bank Of Canada upped their price target on shares of Ferguson from $247.00 to $271.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 24th. Jefferies Financial Group reiterated a "buy" rating and issued a $300.00 price target on shares of Ferguson in a report on Tuesday, February 24th. Finally, Robert W. Baird raised their price objective on shares of Ferguson from $262.00 to $265.00 and gave the company an "outperform" rating in a research note on Wednesday, December 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $268.93.

Ferguson Company 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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