Woodline Partners LP Sells 28,422 Shares of Ferguson plc $FERG

Key Points

• Woodline Partners LP significantly reduced its stake in Ferguson plc by 43.1%, selling 28,422 shares, and now holds 37,506 shares valued at approximately $6.01 million.
• Ferguson plc announced a quarterly dividend of $0.83 per share, with an annualized yield of 1.6%, set to be paid on November 7th.
• The company's stock currently trades at $211.23 with a market capitalization of $41.65 billion, while analysts have a moderate buy consensus with an average target price of $221.00.

Woodline Partners LP reduced its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 43.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,506 shares of the company's stock after selling 28,422 shares during the quarter. Woodline Partners LP's holdings in Ferguson were worth $6,010,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Zimmer Partners LP acquired a new position in shares of Ferguson during the 1st quarter worth about $3,605,000. Rivermont Capital Management LP grew its position in shares of Ferguson by 60.0% during the 1st quarter. Rivermont Capital Management LP now owns 99,279 shares of the company's stock worth $15,907,000 after buying an additional 37,227 shares during the period. Empowered Funds LLC grew its position in shares of Ferguson by 96.1% during the 1st quarter. Empowered Funds LLC now owns 29,251 shares of the company's stock worth $4,687,000 after buying an additional 14,338 shares during the period. Ascent Group LLC grew its position in shares of Ferguson by 11.7% during the 1st quarter. Ascent Group LLC now owns 9,454 shares of the company's stock worth $1,515,000 after buying an additional 988 shares during the period. Finally, Vancity Investment Management Ltd acquired a new position in shares of Ferguson during the 1st quarter worth about $8,944,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Oppenheimer boosted their target price on Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Barclays lifted their price objective on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Royal Bank Of Canada lifted their price objective on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. lifted their price objective on Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Finally, Berenberg Bank reiterated a "hold" rating and set a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Ferguson has an average rating of "Moderate Buy" and an average target price of $221.00.

Ferguson Stock Up 7.9%

NASDAQ FERG traded up $16.86 during trading on Tuesday, hitting $231.39. The stock had a trading volume of 5,042,143 shares, compared to its average volume of 1,753,703. The company has a market capitalization of $45.62 billion, a PE ratio of 27.78, a P/E/G ratio of 1.69 and a beta of 1.15. The company's 50-day moving average price is $226.45 and its two-hundred day moving average price is $196.87. 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 12 month low of $146.00 and a 12 month high of $243.40.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson's payout ratio is presently 41.40%.

Ferguson Company Profile

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.