TD Asset Management Inc Sells 9,142 Shares of Ferguson plc (NASDAQ:FERG)

Key Points

• TD Asset Management Inc reduced its holdings in Ferguson plc by 2.0%, owning about $72.66 million worth of stock at the end of the first quarter.
• Ferguson plc reported a quarterly EPS of $2.50, exceeding expectations and showing a 4.3% year-over-year revenue increase.
• A recent dividend announcement revealed a quarterly payment of $0.83 per share, which equates to an annualized dividend yield of 1.48%.

TD Asset Management Inc cut its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 2.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 455,478 shares of the company's stock after selling 9,142 shares during the period. TD Asset Management Inc owned 0.23% of Ferguson worth $72,660,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ferguson by 14.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock worth $928,000 after buying an additional 722 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Ferguson by 24.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock worth $544,000 after buying an additional 657 shares during the period. First Pacific Advisors LP boosted its holdings in Ferguson by 13.5% in the 1st quarter. First Pacific Advisors LP now owns 1,251,631 shares of the company's stock worth $200,549,000 after buying an additional 148,891 shares during the period. Manning & Napier Advisors LLC boosted its holdings in Ferguson by 40.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 35,015 shares of the company's stock worth $5,610,000 after buying an additional 10,064 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Ferguson by 3,777.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 17,450 shares of the company's stock worth $2,810,000 after buying an additional 17,000 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Price Performance

Shares of NASDAQ FERG traded down $0.70 during mid-day trading on Thursday, reaching $224.77. 247,930 shares of the company were exchanged, compared to its average volume of 1,766,136. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $228.80. 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 stock has a market capitalization of $44.32 billion, a PE ratio of 27.01, a PEG ratio of 1.69 and a beta of 1.17. The company's 50 day moving average price is $212.90 and its 200 day moving average price is $185.58.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results 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 net margin of 5.68% and a return on equity of 34.63%. Ferguson's revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.32 earnings per share. Sell-side analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, June 20th. Ferguson's dividend payout ratio is presently 41.40%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Truist Financial reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a report on Wednesday, June 4th. UBS Group raised their price target on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. The Goldman Sachs Group assumed coverage on shares of Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target for the company. Barclays raised their price target on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Ferguson has an average rating of "Moderate Buy" and an average price target 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.