M&T Bank Corp Sells 1,033 Shares of Ferguson plc (NASDAQ:FERG)

M&T Bank Corp reduced its position in shares of Ferguson plc (NASDAQ:FERG) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,243 shares of the company’s stock after selling 1,033 shares during the quarter. M&T Bank Corp’s holdings in Ferguson were worth $6,612,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Ferguson by 10.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,645 shares of the company’s stock valued at $271,000 after purchasing an additional 149 shares during the period. Raymond James & Associates increased its position in Ferguson by 11.7% during the third quarter. Raymond James & Associates now owns 193,465 shares of the company’s stock worth $31,819,000 after buying an additional 20,268 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Ferguson by 144.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 4,382 shares of the company’s stock valued at $721,000 after buying an additional 2,586 shares during the period. Lindbrook Capital LLC raised its stake in Ferguson by 150.0% in the third quarter. Lindbrook Capital LLC now owns 320 shares of the company’s stock valued at $53,000 after buying an additional 192 shares during the period. Finally, Verdence Capital Advisors LLC lifted its position in shares of Ferguson by 15.6% in the third quarter. Verdence Capital Advisors LLC now owns 1,657 shares of the company’s stock valued at $273,000 after buying an additional 223 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Price Performance

Ferguson stock opened at $218.65 on Tuesday. The company has a market capitalization of $44.34 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 9.07 and a beta of 1.27. The company has a current ratio of 1.80, a quick ratio of 0.97 and a debt-to-equity ratio of 0.66. Ferguson plc has a 12 month low of $139.32 and a 12 month high of $224.86. The stock’s 50 day moving average is $213.09 and its 200-day moving average is $191.40.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.08). Ferguson had a net margin of 6.00% and a return on equity of 37.99%. The firm had revenue of $6.67 billion during the quarter, compared to analyst estimates of $6.72 billion. During the same period in the prior year, the company earned $1.91 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. Equities research analysts expect that Ferguson plc will post 9.66 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.16 annualized dividend and a dividend yield of 1.45%. Ferguson’s dividend payout ratio is presently 36.74%.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut Ferguson from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $166.50.

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.