Vancity Investment Management Ltd Cuts Stock Holdings in Ferguson plc $FERG

Vancity Investment Management Ltd decreased its holdings in shares of Ferguson plc (NYSE:FERG) by 6.8% during the second quarter, HoldingsChannel reports. The firm owned 54,649 shares of the company’s stock after selling 3,975 shares during the period. Ferguson comprises 1.9% of Vancity Investment Management Ltd’s portfolio, making the stock its 20th largest holding. Vancity Investment Management Ltd’s holdings in Ferguson were worth $12,970,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Leonteq Securities AG purchased a new stake in Ferguson during the fourth quarter worth $26,000. Basepoint Wealth LLC purchased a new position in shares of Ferguson in the 4th quarter valued at $26,000. Zions Bancorporation National Association UT increased its holdings in shares of Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after acquiring an additional 79 shares during the period. Compass Financial Management LLC bought a new position in shares of Ferguson in the 2nd quarter worth $32,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Ferguson in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 0.1%

FERG stock opened at $228.53 on Monday. The stock has a market capitalization of $44.21 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.13. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $235.52 and a 200 day moving average of $238.07.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The business had revenue of $8.75 billion for the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. Sell-side analysts forecast that Ferguson plc will post 11.42 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson’s payout ratio is 41.83%.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $261.00 price objective on shares of Ferguson in a research report on Tuesday, August 18th. Robert W. Baird increased their price target on shares of Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Barclays raised their price target on shares of Ferguson from $297.00 to $313.00 and gave the company an “overweight” rating in a report on Tuesday, August 11th. Jefferies Financial Group set a $295.00 price objective on shares of Ferguson in a research report on Thursday. Finally, Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective for the company in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $285.57.

Insider Activity

In related news, insider Jake Schlicher sold 5,177 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $230.92, for a total value of $1,195,472.84. Following the transaction, the insider directly owned 9,490 shares of the company’s stock, valued at $2,191,430.80. This represents a 35.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

Ferguson Company Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.