Southpoint Capital Advisors LP Sells 400,000 Shares of Ferguson plc (NASDAQ:FERG)

Southpoint Capital Advisors LP lowered its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 57.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 300,000 shares of the company's stock after selling 400,000 shares during the quarter. Southpoint Capital Advisors LP owned about 0.15% of Ferguson worth $52,071,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of FERG. Manchester Capital Management LLC increased its stake in Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock valued at $26,000 after buying an additional 136 shares during the last quarter. LGT Financial Advisors LLC increased its stake in Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after buying an additional 102 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in Ferguson in the 4th quarter valued at $35,000. Private Trust Co. NA increased its stake in Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company's stock valued at $45,000 after buying an additional 124 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Ferguson in the 4th quarter valued at $45,000. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

Shares of FERG stock traded up $0.71 during midday trading on Thursday, hitting $179.35. 1,167,724 shares of the company were exchanged, compared to its average volume of 1,619,800. The firm has a market capitalization of $35.86 billion, a P/E ratio of 21.53, a PEG ratio of 1.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The firm's 50 day moving average price is $166.60 and its two-hundred day moving average price is $179.29. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.06). The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.74 EPS. As a group, equities research analysts anticipate 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 Tuesday, May 6th. Shareholders of record on Friday, March 21st were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Friday, March 21st. Ferguson's dividend payout ratio is currently 40.84%.

Analyst Ratings Changes

FERG has been the topic of several recent research reports. Robert W. Baird set a $190.00 price target on shares of Ferguson and gave the company an "outperform" rating in a research note on Wednesday, March 12th. Citigroup lowered their price target on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley started coverage on shares of Ferguson in a research note on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Ferguson from $205.00 to $190.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 19th. Finally, Wolfe Research started coverage on shares of Ferguson in a research note on Monday, March 17th. They set a "peer perform" rating on the stock. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and a consensus target price of $199.38.

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.