Ferguson plc (NASDAQ:FERG) Shares Sold by Wishbone Management LP

Wishbone Management LP decreased its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,697 shares of the company's stock after selling 30,303 shares during the period. Ferguson makes up 14.8% of Wishbone Management LP's portfolio, making the stock its 4th biggest holding. Wishbone Management LP owned 0.09% of Ferguson worth $31,190,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Manchester Capital Management LLC boosted its position in shares of Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock valued at $26,000 after purchasing an additional 136 shares during the period. LGT Financial Advisors LLC lifted its stake in Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after buying an additional 102 shares in the last quarter. Berbice Capital Management LLC acquired a new position in shares of Ferguson in the fourth quarter worth about $35,000. R Squared Ltd acquired a new position in shares of Ferguson in the fourth quarter worth about $45,000. Finally, Private Trust Co. NA increased its position in shares of Ferguson by 92.5% in the fourth quarter. Private Trust Co. NA now owns 258 shares of the company's stock worth $45,000 after acquiring an additional 124 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $189.00 price target on shares of Ferguson in a research report on Tuesday, March 18th. Barclays reduced their target price on Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft started coverage on Ferguson in a report on Tuesday, April 1st. They set a "hold" rating and a $174.00 price target on the stock. Morgan Stanley initiated coverage on Ferguson in a research report on Monday, February 3rd. They set an "overweight" rating and a $204.00 price target on the stock. Finally, Wells Fargo & Company raised their price objective on Ferguson from $180.00 to $190.00 and gave the stock an "overweight" rating in a research report on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, Ferguson currently has an average rating of "Moderate Buy" and an average price target of $199.38.

Ferguson Trading Down 0.7%

NASDAQ:FERG opened at $183.34 on Tuesday. The company has a market capitalization of $36.66 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.69 and a beta of 1.14. The stock's 50 day moving average price is $165.68 and its 200 day moving average price is $179.27. 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 52 week low of $146.00 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter last year, the company earned $1.74 EPS. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, research analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st were issued a dividend of $0.83 per share. The ex-dividend date was Friday, March 21st. This represents a $3.32 annualized dividend and a yield of 1.81%. Ferguson's dividend payout ratio (DPR) is currently 40.84%.

About Ferguson

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.