Ferguson plc $FERG Shares Sold by Maven Securities LTD

Key Points

• Maven Securities LTD reduced its stake in Ferguson plc by 48.0%, selling 1,249 shares, bringing their total holdings to 1,351 shares valued at $216,000.
• Ferguson recently reported earnings of $2.50 per share for the quarter, exceeding the consensus estimate by $0.44, with quarterly revenue up by 4.3% compared to the previous year.
• The company announced a quarterly dividend of $0.83 per share, resulting in an annualized yield of 1.4% and a dividend payout ratio of 41.40%.

Maven Securities LTD lessened its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 48.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,351 shares of the company's stock after selling 1,249 shares during the period. Maven Securities LTD's holdings in Ferguson were worth $216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Bank of New York Mellon Corp boosted its position in shares of Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after buying an additional 1,506,024 shares during the period. Vontobel Holding Ltd. lifted its stake in Ferguson by 94.6% during the 1st quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock worth $384,957,000 after acquiring an additional 1,167,751 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Ferguson by 769.5% during 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 period. Massachusetts Financial Services Co. MA grew its position in Ferguson by 1,036.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,020,522 shares of the company's stock valued at $163,518,000 after acquiring an additional 930,696 shares in the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Ferguson by 29.6% during the first quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock worth $582,452,000 after purchasing an additional 831,112 shares during the period. Hedge funds and other institutional investors own 81.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FERG. Wells Fargo & Company increased their price target on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Oppenheimer increased their target price on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Morgan Stanley restated an "overweight" rating and issued a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Truist Financial reaffirmed a "buy" rating and set a $230.00 price objective on shares of Ferguson in a research report on Wednesday, June 4th. Finally, Berenberg Bank reiterated a "hold" rating and issued a $215.00 target price on shares of Ferguson in a report on Thursday, June 5th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Ferguson has a consensus rating of "Moderate Buy" and a consensus target price of $220.64.

Ferguson Stock Up 1.8%

Shares of FERG traded up $4.1880 during midday trading on Friday, reaching $233.2480. The stock had a trading volume of 1,664,452 shares, compared to its average volume of 1,703,642. The company has a market cap of $45.99 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 1.69 and a beta of 1.16. The company's fifty day simple moving average is $222.72 and its two-hundred day simple moving average is $191.20. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $238.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%.During the same period last year, the firm earned $2.32 EPS. The firm's quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts expect that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th were issued a $0.83 dividend. The ex-dividend date was Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson's dividend payout ratio is presently 41.40%.

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.