Livforsakringsbolaget Skandia Omsesidigt Decreases Holdings in Ferguson plc $FERG

Key Points

• Livforsakringsbolaget Skandia Omsesidigt sold 2,800 shares of Ferguson plc, reducing its position by 8.9% to a total of 28,776 shares valued at approximately $6.27 million.
• Ferguson declared a quarterly dividend of $0.83, with an annualized yield of 1.4%, set to be paid on November 7th to shareholders of record on September 26th.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Ferguson, with an average price target of $235.71, reflecting optimism for the company's stock performance.

Livforsakringsbolaget Skandia Omsesidigt trimmed its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 8.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,776 shares of the company's stock after selling 2,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Ferguson were worth $6,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of FERG. T. Rowe Price Investment Management Inc. increased its holdings in Ferguson by 101.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock valued at $667,498,000 after acquiring an additional 2,094,029 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ferguson by 65.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock valued at $713,740,000 after acquiring an additional 1,755,464 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Ferguson by 24.5% in the 1st quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock valued at $1,227,410,000 after acquiring an additional 1,506,024 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in Ferguson by 94.6% in the 1st quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock valued at $384,957,000 after acquiring an additional 1,167,751 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Ferguson by 769.5% in the 1st quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company's stock valued at $203,004,000 after acquiring an additional 1,121,249 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FERG shares. Morgan Stanley restated an "overweight" rating on shares of Ferguson in a report on Wednesday, September 10th. JPMorgan Chase & Co. boosted their target price on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Berenberg Bank restated a "hold" rating and issued a $215.00 target price on shares of Ferguson in a report on Thursday, June 5th. Truist Financial lifted their price target on shares of Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Finally, The Goldman Sachs Group initiated coverage on shares of Ferguson in a research note on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target for the company. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $235.71.

Ferguson Stock Performance

Shares of NASDAQ:FERG traded up $3.64 during midday trading on Monday, reaching $233.05. The company's stock had a trading volume of 2,277,311 shares, compared to its average volume of 1,771,627. The firm has a market capitalization of $45.95 billion, a PE ratio of 27.98, a P/E/G ratio of 1.69 and a beta of 1.15. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $243.40. The stock has a fifty day moving average of $226.91 and a 200 day moving average of $198.52. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson Dividend Announcement

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

Ferguson 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.