Ferguson plc $FERG Shares Sold by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust trimmed its stake in Ferguson by 6.3% in Q4, selling 31,280 shares and leaving it with 465,892 shares (about 0.24%) valued at roughly $103.72 million.
• Ferguson missed Q4 EPS estimates at $1.99 vs. $2.24 expected while revenue rose 3.6% year-over-year, and the company declared a quarterly dividend of $0.89 (annualized $3.56, yield 1.4%; ex-dividend March 6).
• Institutional ownership is high at 81.98%, and analysts hold a consensus "Moderate Buy" rating with an average target price of about $267.27 (recent targets range from ~$252 to $300).

Sumitomo Mitsui Trust Group Inc. trimmed its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 465,892 shares of the company's stock after selling 31,280 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.24% of Ferguson worth $103,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. 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 period. Signaturefd LLC lifted its position in shares of Ferguson by 1.1% during the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company's stock valued at $886,000 after acquiring an additional 44 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in shares of Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company's stock valued at $150,000 after acquiring an additional 48 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Ferguson by 21.7% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company's stock valued at $66,000 after acquiring an additional 52 shares during the period. Finally, Founders Grove Wealth Partners LLC lifted its position in shares of Ferguson by 4.2% during the 4th quarter. Founders Grove Wealth Partners LLC now owns 1,353 shares of the company's stock valued at $301,000 after acquiring an additional 55 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Trading Up 0.7%

Shares of Ferguson stock opened at $258.44 on Tuesday. 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 plc has a 1 year low of $158.68 and a 1 year high of $271.64. The company has a market capitalization of $50.24 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.09 and a beta of 1.21. The business has a 50 day moving average price of $243.85 and a 200 day moving average price of $241.08.

Ferguson (NYSE:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. The business's revenue was up 3.6% on a year-over-year basis. During the same period last year, the company earned $1.52 earnings per share.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be issued a $0.89 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.56 annualized dividend and a yield of 1.4%. Ferguson's payout ratio is 35.96%.

Analysts Set New Price Targets

Several brokerages recently issued reports on FERG. Jefferies Financial Group restated a "buy" rating and set a $300.00 price objective on shares of Ferguson in a research report on Tuesday, February 24th. Morgan Stanley restated an "overweight" rating on shares of Ferguson in a research report on Tuesday, January 6th. Sanford C. Bernstein restated an "outperform" rating on shares of Ferguson in a research report on Thursday, January 8th. Wall Street Zen downgraded Ferguson from a "buy" rating to a "hold" rating in a research report on Saturday, January 10th. Finally, UBS Group lifted their price objective on Ferguson from $220.00 to $252.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and an average target price of $267.27.

About Ferguson

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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