Trillium Asset Management LLC Trims Stake in Ferguson plc (NASDAQ:FERG)

Key Points

• Trillium Asset Management LLC reduced its stake in Ferguson plc by 3.3%, now holding approximately 151,960 shares valued at $24.25 million.
• Analysts have optimistic views on Ferguson, with target prices ranging from $220 to $250 and an average rating of "Moderate Buy."
• Ferguson recently declared a quarterly dividend of $0.83, resulting in an annualized dividend yield of 1.5%.

Trillium Asset Management LLC decreased its position in Ferguson plc (NASDAQ:FERG - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 151,960 shares of the company's stock after selling 5,229 shares during the period. Trillium Asset Management LLC owned 0.08% of Ferguson worth $24,254,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FERG. LGT Financial Advisors LLC increased its stake in shares of Ferguson by 106.3% during the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after purchasing an additional 102 shares during the last quarter. Grove Bank & Trust boosted its holdings in Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after purchasing an additional 141 shares during the period. TD Private Client Wealth LLC boosted its holdings in Ferguson by 56.5% in the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Whipplewood Advisors LLC boosted its holdings in Ferguson by 166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares during the period. Finally, LRI Investments LLC bought a new position in Ferguson in the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FERG shares. 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. The Goldman Sachs Group initiated 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. Truist Financial reaffirmed a "buy" rating and set a $230.00 price objective on shares of Ferguson in a report on Wednesday, June 4th. Berenberg Bank reaffirmed a "hold" rating and set a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson Trading Up 1.6%

NASDAQ:FERG traded up $3.69 during trading hours on Friday, reaching $231.71. The company's stock had a trading volume of 1,686,819 shares, compared to its average volume of 1,723,971. The firm has a 50-day simple moving average of $220.99 and a 200-day simple moving average of $189.41. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $232.11. The firm has a market capitalization of $45.69 billion, a price-to-earnings ratio of 27.82, a PEG 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 (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating 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 business earned $2.32 EPS. Ferguson's quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th were given a $0.83 dividend. 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 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.