Martingale Asset Management L P Trims Stock Holdings in Ferguson plc (NASDAQ:FERG)

Martingale Asset Management L P decreased its holdings in Ferguson plc (NASDAQ:FERG) by 11.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,915 shares of the company’s stock after selling 13,969 shares during the period. Martingale Asset Management L P owned 0.05% of Ferguson worth $21,826,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Ferguson by 375.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock worth $1,218,032,000 after purchasing an additional 4,966,821 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ferguson by 423.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock worth $290,475,000 after buying an additional 1,183,143 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in Ferguson during the 3rd quarter worth $63,420,000. Waverton Investment Management Ltd grew its stake in Ferguson by 61.0% during the 2nd quarter. Waverton Investment Management Ltd now owns 812,904 shares of the company’s stock valued at $157,293,000 after purchasing an additional 308,138 shares during the last quarter. Finally, FMR LLC grew its stake in Ferguson by 3.5% during the 3rd quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after purchasing an additional 288,935 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Insider Activity

In other news, insider Ian T. Graham sold 5,778 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.27, for a total value of $1,162,938.06. Following the sale, the insider now directly owns 5,938 shares in the company, valued at approximately $1,195,141.26. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Garland Williams sold 1,118 shares of the firm’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 sale, the senior vice president now owns 1,882 shares in the company, valued at approximately $378,696.04. This represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,313 shares of company stock worth $2,477,901. Corporate insiders own 0.16% of the company’s stock.

Ferguson Trading Up 0.4 %

Shares of Ferguson stock opened at $213.27 on Friday. The firm has a market capitalization of $42.81 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.07 and a beta of 1.20. Ferguson plc has a fifty-two week low of $166.21 and a fifty-two week high of $225.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The stock has a 50 day moving average of $201.47 and a 200 day moving average of $202.59.

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

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, September 27th. Ferguson’s payout ratio is currently 37.05%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada boosted their price objective on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Oppenheimer started coverage on Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective for the company. UBS Group upped their price target on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Citigroup upped their price target on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Finally, Barclays upped their price target on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Two research 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 presently has an average rating of “Moderate Buy” and a consensus target price of $233.38.

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.