Ferguson plc (NASDAQ:FERG) Shares Sold by Truist Financial Corp

Truist Financial Corp decreased its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 9.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,079 shares of the company's stock after selling 21,597 shares during the quarter. Truist Financial Corp owned about 0.11% of Ferguson worth $33,661,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Mission Wealth Management LP grew its holdings 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 purchasing an additional 67 shares during the period. James Hambro & Partners LLP grew its holdings 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 purchasing an additional 70 shares during the period. Integrated Wealth Concepts LLC grew its holdings 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 purchasing an additional 74 shares during the period. Cidel Asset Management Inc. grew its holdings in shares of Ferguson by 6.5% in the first quarter. Cidel Asset Management Inc. now owns 1,284 shares of the company's stock valued at $206,000 after purchasing an additional 78 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Ferguson by 1.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company's stock valued at $1,109,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Stock Down 0.4%

Ferguson stock traded down $0.80 during mid-day trading on Monday, hitting $222.52. The company had a trading volume of 1,364,307 shares, compared to its average volume of 1,677,073. The stock has a market cap of $43.88 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.69 and a beta of 1.17. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $225.63. 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 business has a fifty day moving average of $195.61 and a 200 day moving average of $179.66.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating 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 last year, the company earned $2.32 EPS. On average, sell-side analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.49%. Ferguson's dividend payout ratio is currently 41.40%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on FERG shares. Morgan Stanley reissued an "overweight" rating and issued a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. JPMorgan Chase & Co. increased their target price on shares of Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Citigroup lowered their target price on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. Wolfe Research assumed coverage on shares of Ferguson in a research note on Monday, March 17th. They set a "peer perform" rating for the company. Finally, Barclays increased their target price on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $221.27.

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.