Russell Investments Group Ltd. Decreases Stock Holdings in Ferguson plc $FERG

Key Points

• Russell Investments Group Ltd. has reduced its stake in Ferguson plc by 37.3%, bringing its shareholding down to 36,177 shares valued at approximately $5.79 million.
• Several other hedge funds have increased their positions in Ferguson, with TD Private Client Wealth LLC leading with a 56.5% increase in their holdings during the first quarter.
• Ferguson reported a quarterly EPS of $2.50, exceeding analysts' expectations, and announced a dividend of $0.83 per share, reflecting a 1.4% yield.

Russell Investments Group Ltd. decreased its position in Ferguson plc (NASDAQ:FERG - Free Report) by 37.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,177 shares of the company's stock after selling 21,531 shares during the quarter. Russell Investments Group Ltd.'s holdings in Ferguson were worth $5,792,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. US Bancorp DE increased its position in shares of Ferguson by 0.8% in the first quarter. US Bancorp DE now owns 7,394 shares of the company's stock valued at $1,185,000 after acquiring an additional 59 shares during the period. Mission Wealth Management LP increased its position in shares of Ferguson by 2.2% in the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock valued at $489,000 after acquiring an additional 67 shares during the period. James Hambro & Partners LLP increased its position in shares of Ferguson by 1.1% in the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock valued at $1,011,000 after acquiring an additional 70 shares during the period. Integrated Wealth Concepts LLC increased its position in shares of Ferguson by 6.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after acquiring an additional 74 shares during the period. Finally, TD Private Client Wealth LLC increased its position in shares of Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of FERG opened at $230.5470 on Thursday. The stock has a market cap of $45.46 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16. 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 fifty-two week low of $146.00 and a fifty-two week high of $235.12. The firm's 50-day simple moving average is $222.00 and its two-hundred day simple moving average is $190.46.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same period in the previous year, the firm earned $2.32 EPS. The company's quarterly revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th were issued a dividend of $0.83 per share. 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%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FERG shares. Morgan Stanley reiterated an "overweight" rating and set a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. UBS Group boosted their price target on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price target on shares of Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Wells Fargo & Company boosted their price target on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, The Goldman Sachs Group started coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target on the stock. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Company 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.

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