Tran Capital Management L.P. Cuts Stake in Ferguson plc $FERG

Tran Capital Management L.P. lessened its position in Ferguson plc (NYSE:FERG) by 15.2% in the third quarter, HoldingsChannel reports. The fund owned 168,969 shares of the company’s stock after selling 30,205 shares during the quarter. Ferguson makes up approximately 4.5% of Tran Capital Management L.P.’s holdings, making the stock its 5th largest holding. Tran Capital Management L.P.’s holdings in Ferguson were worth $37,947,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in FERG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Ferguson by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,932,959 shares of the company’s stock valued at $309,718,000 after buying an additional 205,531 shares during the last quarter. Empowered Funds LLC raised its stake in Ferguson by 96.1% in the 1st quarter. Empowered Funds LLC now owns 29,251 shares of the company’s stock valued at $4,687,000 after acquiring an additional 14,338 shares during the period. Nordea Investment Management AB boosted its position in Ferguson by 68.9% during the second quarter. Nordea Investment Management AB now owns 239,783 shares of the company’s stock worth $52,230,000 after purchasing an additional 97,791 shares during the period. Perpetual Ltd boosted its position in Ferguson by 52.5% during the third quarter. Perpetual Ltd now owns 589,953 shares of the company’s stock worth $132,492,000 after purchasing an additional 203,065 shares during the period. Finally, Mariner Investment Group LLC purchased a new position in shares of Ferguson in the second quarter worth about $3,266,000. 81.98% of the stock is owned by institutional investors.

Ferguson Trading Down 1.6%

Shares of FERG stock opened at $222.32 on Thursday. The firm has a market cap of $43.48 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 1.89 and a beta of 1.18. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $256.93. The business has a 50-day moving average price of $237.70 and a two-hundred day moving average price of $231.81. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. The firm had revenue of $8.17 billion during the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.45 earnings per share.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be paid a $0.89 dividend. This is a boost from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson’s dividend payout ratio is presently 35.96%.

Analyst Upgrades and Downgrades

Several research firms recently commented on FERG. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $243.00 price objective on shares of Ferguson in a report on Wednesday, December 10th. Robert W. Baird lifted their price target on Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. UBS Group decreased their price objective on Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 10th. Sanford C. Bernstein restated an “outperform” rating and issued a $288.00 target price on shares of Ferguson in a research note on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $252.06.

Insider Activity at Ferguson

In other Ferguson news, insider Ian T. Graham sold 606 shares of Ferguson stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $239.33, for a total value of $145,033.98. Following the transaction, the insider directly owned 7,714 shares of the company’s stock, valued at $1,846,191.62. The trade was a 7.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Allison Stirrup sold 969 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $234.23, for a total value of $226,968.87. Following the completion of the sale, the insider owned 5,058 shares of the company’s stock, valued at $1,184,735.34. The trade was a 16.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,264 shares of company stock worth $6,853,349 over the last three months. Corporate insiders own 0.18% of the company’s stock.

Ferguson News Roundup

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Quarterly fundamentals beat consensus and showed revenue growth and strong ROE, supporting the company’s mid-cycle earnings resilience and helping justify current valuation despite recent share weakness.
• Neutral Sentiment: Market commentary piece reviews investor/short-seller sentiment toward Ferguson (Ferguson Enterprises / market views). This kind of analysis can influence near-term trading flows but does not change Ferguson plc’s reported results. What Does the Market Think About Ferguson Enterprises Inc?
• Neutral Sentiment: Local/state government story mentioning “Gov. Ferguson” (ferry plan) is unrelated to Ferguson plc’s business and should not affect the stock’s fundamentals. Gov. Ferguson’s ferry plan tested by three broken boats
• Neutral Sentiment: Several entertainment/celebrity articles reference Sarah Ferguson (royal family coverage) — not related to the company’s operations or outlook. Sarah Ferguson was ‘lonely, deeply unhappy’ in Andrew marriage Sarah Ferguson sets sights on new chapter amid Royal Lodge eviction Sarah Ferguson’s nickname for the late queen revealed
• Neutral Sentiment: Multiple sports stories concern people named Ferguson (Evan Ferguson, Sir Alex Ferguson comparisons, player paternity leave) and do not pertain to Ferguson plc’s business. These are unlikely to move the stock. Ferguson and Dovbyk fire Roma to win at Lecce Evan Ferguson scores as Roma move up to fourth Ferguson, Henry may take paternity leave during T20 World Cup

About Ferguson

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.