Trillium Asset Management LLC Cuts Stock Position in Ferguson plc $FERG

Trillium Asset Management LLC lessened its holdings in Ferguson plc (NYSE:FERG - Free Report) by 22.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 112,368 shares of the company's stock after selling 33,030 shares during the period. Trillium Asset Management LLC owned approximately 0.06% of Ferguson worth $26,691,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Basepoint Wealth LLC bought a new stake in shares of Ferguson in the 4th quarter worth about $26,000. Leonteq Securities AG bought a new position in shares of Ferguson in the 4th quarter valued at about $26,000. Zions Bancorporation National Association UT lifted its holdings in shares of Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company's stock valued at $32,000 after acquiring an additional 79 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Ferguson in the third quarter worth about $34,000. Finally, Eastern Bank bought a new stake in Ferguson during the second quarter worth approximately $42,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FERG. UBS Group raised their price objective on Ferguson from $252.00 to $256.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Weiss Ratings raised shares of Ferguson from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 2nd. Sanford C. Bernstein boosted their price objective on shares of Ferguson from $310.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. Barclays increased their target price on shares of Ferguson from $297.00 to $313.00 and gave the company an "overweight" rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company raised their target price on shares of Ferguson from $285.00 to $295.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $285.93.

Ferguson Stock Performance

Shares of NYSE:FERG opened at $239.83 on Friday. The firm has a market cap of $46.40 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. The firm's 50 day simple moving average is $236.94 and its 200-day simple moving average is $240.49. Ferguson plc has a one year low of $207.64 and a one year high of $271.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73.

Ferguson (NYSE:FERG - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The firm had revenue of $8.75 billion during the quarter. As a group, equities analysts predict that Ferguson plc will post 11.39 EPS for the current year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. Ferguson's dividend payout ratio is currently 41.83%.

Ferguson declared that its Board of Directors has approved a stock repurchase plan on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Ferguson Company Profile

Ferguson NYSE: FERG is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.

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