Oppenheimer Asset Management Inc. Sells 3,325 Shares of Ferguson plc $FERG

Oppenheimer Asset Management Inc. decreased its holdings in shares of Ferguson plc (NYSE:FERG) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,348 shares of the company’s stock after selling 3,325 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ferguson were worth $9,735,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Cornerstone Planning Group LLC grew its holdings in Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares during the period. True Wealth Design LLC increased its holdings in Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 77 shares during the last quarter. Quent Capital LLC acquired a new position in Ferguson in the third quarter valued at about $43,000. Harbour Investments Inc. boosted its holdings in Ferguson by 61.3% during the second quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock worth $53,000 after buying an additional 92 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new position in shares of Ferguson during the 2nd quarter worth about $58,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FERG. Royal Bank Of Canada reiterated an “outperform” rating on shares of Ferguson in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. Jefferies Financial Group upped their price objective on shares of Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Wells Fargo & Company lifted their target price on Ferguson from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Finally, Robert W. Baird boosted their price objective on Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and an average price target of $253.00.

Ferguson Stock Down 0.4%

FERG stock opened at $261.68 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The stock has a market capitalization of $51.17 billion, a P/E ratio of 26.43, a P/E/G ratio of 2.18 and a beta of 1.17. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $265.00. The business has a 50-day moving average of $239.94 and a 200-day moving average of $236.70.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.77 by $0.07. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The firm had revenue of $8.17 billion for the quarter. During the same quarter in the previous year, the firm posted $2.45 EPS. The company’s revenue was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.89 per share. 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 annualized dividend and a yield of 1.4%. Ferguson’s payout ratio is presently 35.96%.

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.