Ferguson plc (NASDAQ:FERG) Stake Lessened by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has reduced its holdings in Ferguson plc by 52.3%, now owning 63,971 shares valued at $10.25 million following the sale of over 70,000 shares in the first quarter.
• Ferguson has a current market capitalization of $43.75 billion and reported better-than-expected earnings with an EPS of $2.50 surpassing analysts' expectations by $0.44.
• The company recently announced a quarterly dividend of $0.83 per share, which translates to an annualized yield of 1.5%, set to be paid on August 6th.

Natixis Advisors LLC cut its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 52.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 63,971 shares of the company's stock after selling 70,277 shares during the period. Natixis Advisors LLC's holdings in Ferguson were worth $10,250,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted its position in Ferguson by 18.2% during the 4th quarter. FMR LLC now owns 10,007,892 shares of the company's stock worth $1,740,049,000 after acquiring an additional 1,539,889 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Ferguson by 24.5% in the first 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 purchasing an additional 1,506,024 shares during the last quarter. Invesco Ltd. boosted its holdings in Ferguson by 25.9% in the fourth quarter. Invesco Ltd. now owns 5,991,445 shares of the company's stock valued at $1,039,935,000 after purchasing an additional 1,231,120 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Ferguson by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock valued at $856,746,000 after purchasing an additional 62,887 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in Ferguson by 29.6% in the first quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock valued at $582,452,000 after purchasing an additional 831,112 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FERG shares. JPMorgan Chase & Co. increased their price target on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Berenberg Bank restated a "hold" rating and set a $215.00 price objective on shares of Ferguson in a research note on Thursday, June 5th. Oppenheimer upped their price objective on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group began coverage on Ferguson in a research note on Wednesday, June 18th. They set a "buy" rating and a $280.00 price objective on the stock. Finally, Wells Fargo & Company upped their price objective on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Ferguson has an average rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson Price Performance

NASDAQ FERG traded down $3.02 on Wednesday, reaching $223.14. 1,291,030 shares of the stock traded hands, compared to its average volume of 1,750,215. The firm's fifty day simple moving average is $216.44 and its 200 day simple moving average is $187.01. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a market cap of $44.00 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 1.69 and a beta of 1.16. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $228.80.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, topping 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%. The company's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.32 earnings per share. As a group, research analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be issued a $0.83 dividend. The ex-dividend date is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.5%. 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.