Ferguson plc $FERG Shares Sold by Perpetual Ltd

Key Points

• Perpetual Ltd cut its Ferguson stake by 49.6% in the third quarter, selling 141,729 shares and retaining 143,960 shares valued at approximately $32 million.
• Institutional ownership remains high at 81.98%, with several major investors—including Janus Henderson, Man Group, Bank of America and Pictet Asset Management—adding to their positions.
• Ferguson shares opened at $220.43, while analysts maintained a “Moderate Buy” consensus and an average price target of $283.07. The company also reported quarterly earnings above estimates and pays an annualized dividend of $3.56 per share.

Perpetual Ltd cut its holdings in Ferguson plc (NYSE:FERG - Free Report) by 49.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,960 shares of the company's stock after selling 141,729 shares during the period. Perpetual Ltd owned about 0.07% of Ferguson worth $32,048,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Jupiter Topco LLC purchased a new stake in shares of Ferguson in the second quarter valued at about $1,789,368,000. Janus Henderson Group PLC grew its stake in shares of Ferguson by 7.8% during the 4th quarter. Janus Henderson Group PLC now owns 5,981,791 shares of the company's stock worth $1,331,621,000 after purchasing an additional 434,650 shares during the period. Man Group plc increased its holdings in shares of Ferguson by 613.8% in the 2nd quarter. Man Group plc now owns 401,395 shares of the company's stock valued at $95,263,000 after purchasing an additional 345,165 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Ferguson by 43.6% in the 1st quarter. Bank of America Corp DE now owns 1,029,896 shares of the company's stock valued at $240,234,000 after purchasing an additional 312,756 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Ferguson by 9.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,868,181 shares of the company's stock valued at $668,809,000 after purchasing an additional 240,666 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Up 0.2%

FERG opened at $220.43 on Tuesday. The business's fifty day moving average is $230.34 and its two-hundred day moving average is $234.55. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. The company has a market cap of $42.64 billion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.59 and a beta of 1.14. Ferguson plc has a one year low of $212.13 and a one year high of $271.64.

Ferguson (NYSE:FERG - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating analysts' consensus estimates of $3.23 by $0.16. The business had revenue of $8.75 billion during the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. Analysts anticipate that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Friday, August 21st were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 21st. Ferguson's dividend payout ratio is presently 41.83%.

Insiders Place Their Bets

In other Ferguson news, insider Jake Schlicher sold 5,177 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $230.92, for a total transaction of $1,195,472.84. Following the completion of the transaction, the insider directly owned 9,490 shares in the company, valued at approximately $2,191,430.80. This trade represents a 35.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

FERG has been the topic of a number of research analyst reports. Melius Research started coverage on shares of Ferguson in a report on Tuesday, October 6th. They set a "hold" rating and a $252.00 price objective on the stock. Robert W. Baird upped their target price on shares of Ferguson from $285.00 to $288.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Oppenheimer increased their target price on shares of Ferguson from $280.00 to $288.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Barclays increased their target price on shares of Ferguson from $297.00 to $313.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada reduced their price target on shares of Ferguson from $290.00 to $286.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $283.07.

Ferguson Profile

Ferguson plc NYSE: FERG is a North American distributor of plumbing and heating products, supplying professional customers across the residential, commercial, industrial and infrastructure markets. The company serves contractors, builders, remodelers, municipalities, industrial businesses and other trade professionals through branch locations, distribution centers and digital ordering platforms.

Its product offerings include plumbing supplies and fixtures, heating and cooling equipment, water and wastewater products, fire protection systems, waterworks materials, industrial piping and related maintenance, repair and operating supplies.

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