Generali Asset Management SPA SGR Sells 4,339 Shares of Ferguson plc $FERG

Key Points

• Generali Asset Management SPA SGR reduced its stake in Ferguson plc by 12.5%, selling 4,339 shares and holding 30,294 shares valued at approximately $6.6 million.
• Several large investors increased their holdings in Ferguson plc, with Harbour Investments Inc. raising its stake by 61.3% during the same quarter.
• Analysts have favorable outlooks on Ferguson, with Barclays raising the price target from $247.00 to $273.00 and several firms giving the company an "outperform" rating.

Generali Asset Management SPA SGR trimmed its stake in Ferguson plc (NYSE:FERG - Free Report) by 12.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,294 shares of the company's stock after selling 4,339 shares during the period. Generali Asset Management SPA SGR's holdings in Ferguson were worth $6,597,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Harbour Investments Inc. raised its holdings in Ferguson by 61.3% in the second quarter. Harbour Investments Inc. now owns 242 shares of the company's stock worth $53,000 after purchasing an additional 92 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of Ferguson during the 2nd quarter worth approximately $476,000. Sequoia Financial Advisors LLC raised its stake in shares of Ferguson by 53.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 3,694 shares of the company's stock worth $804,000 after acquiring an additional 1,282 shares in the last quarter. LRI Investments LLC raised its stake in shares of Ferguson by 42.4% during the 2nd quarter. LRI Investments LLC now owns 410 shares of the company's stock worth $89,000 after acquiring an additional 122 shares in the last quarter. Finally, Alta Advisers Ltd bought a new position in shares of Ferguson during the 2nd quarter worth approximately $232,000. 81.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of recent analyst reports. Barclays upped their price target on Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Oppenheimer upped their target price on Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. The Goldman Sachs Group began coverage on Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Royal Bank Of Canada upped their price objective on shares of Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Finally, Wells Fargo & Company upped their price objective on shares of Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Ferguson currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.14.

Ferguson Trading Up 0.1%

Shares of FERG stock opened at $240.73 on Thursday. The firm's 50 day moving average is $229.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The stock has a market capitalization of $47.22 billion, a PE ratio of 25.77, a P/E/G ratio of 1.98 and a beta of 1.17. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $243.40.

Ferguson (NYSE:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, beating analysts' consensus estimates of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The company had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $8.44 billion.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 26th. Ferguson's payout ratio is currently 35.55%.

Insider Transactions at Ferguson

In other news, insider Ian T. Graham sold 4,864 shares of the business's stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $233.22, for a total value of $1,134,382.08. Following the completion of the sale, the insider directly owned 7,769 shares in the company, valued at $1,811,886.18. The trade was a 38.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider James A. Paisley sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total value of $710,910.00. Following the completion of the sale, the insider owned 2,211 shares of the company's stock, valued at $523,940.67. This trade represents a 57.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,575 shares of company stock worth $6,688,246 over the last quarter. Company insiders own 0.16% of the company's stock.

Ferguson Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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