Equitable Trust Co. Trims Stock Position in Ferguson plc (NASDAQ:FERG)

Equitable Trust Co. reduced its stake in Ferguson plc (NASDAQ:FERG) by 31.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,779 shares of the company’s stock after selling 5,445 shares during the quarter. Equitable Trust Co.’s holdings in Ferguson were worth $2,339,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Asset Dedication LLC purchased a new position in Ferguson during the third quarter worth about $27,000. EdgeRock Capital LLC acquired a new position in Ferguson during the 2nd quarter worth approximately $32,000. Capital Performance Advisors LLP purchased a new position in shares of Ferguson during the 3rd quarter worth approximately $37,000. Reston Wealth Management LLC acquired a new stake in shares of Ferguson in the 3rd quarter valued at approximately $40,000. Finally, Canoe Financial LP purchased a new stake in shares of Ferguson in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Insiders Place Their Bets

In other news, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the transaction, the chief marketing officer now owns 5,205 shares of the company’s stock, valued at $1,047,246. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Ferguson news, CMO Victoria Morrissey sold 1,468 shares of Ferguson stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now directly owns 5,205 shares of the company’s stock, valued at approximately $1,047,246. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the completion of the transaction, the senior vice president now owns 1,882 shares of the company’s stock, valued at $378,696.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,313 shares of company stock valued at $2,477,901 in the last ninety days. Insiders own 0.16% of the company’s stock.

Ferguson Trading Down 1.6 %

Shares of FERG opened at $207.46 on Friday. Ferguson plc has a 1-year low of $156.23 and a 1-year high of $225.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $198.64 and a 200-day simple moving average of $203.40. The stock has a market cap of $41.65 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 2.05 and a beta of 1.20.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The company had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period in the previous year, the firm posted $2.77 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts forecast that Ferguson plc will post 9.77 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 1.52%. Ferguson’s dividend payout ratio (DPR) is 37.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Oppenheimer initiated coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price for the company. Robert W. Baird raised their price objective on shares of Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays boosted their price objective on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Jefferies Financial Group lifted their price target on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company upped their price target on Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and an average target price of $233.38.

About Ferguson

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.