London & Capital Asset Management Ltd Trims Stake in Ferguson plc $FERG

London & Capital Asset Management Ltd cut its stake in shares of Ferguson plc (NYSE:FERG) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,186 shares of the company’s stock after selling 19,667 shares during the period. Ferguson makes up approximately 3.5% of London & Capital Asset Management Ltd’s investment portfolio, making the stock its 9th largest holding. London & Capital Asset Management Ltd’s holdings in Ferguson were worth $49,667,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FERG. Vanguard Group Inc. boosted its holdings in Ferguson by 0.9% during the second quarter. Vanguard Group Inc. now owns 19,341,871 shares of the company’s stock worth $4,211,692,000 after buying an additional 173,128 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Ferguson by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,687,611 shares of the company’s stock valued at $1,673,977,000 after acquiring an additional 27,312 shares during the period. Franklin Resources Inc. raised its position in shares of Ferguson by 39.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock valued at $926,830,000 after acquiring an additional 1,201,493 shares during the period. Soroban Capital Partners LP boosted its stake in Ferguson by 2.8% during the 2nd quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock worth $806,776,000 after acquiring an additional 100,559 shares during the last quarter. Finally, Egerton Capital UK LLP grew its holdings in Ferguson by 16.4% during the third quarter. Egerton Capital UK LLP now owns 2,600,224 shares of the company’s stock valued at $583,958,000 after purchasing an additional 366,898 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Trading Down 1.6%

FERG opened at $260.62 on Monday. The stock has a market capitalization of $50.96 billion, a P/E ratio of 26.33, a P/E/G ratio of 2.13 and a beta of 1.18. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $271.64. The firm’s fifty day simple moving average is $247.14 and its 200 day simple moving average is $240.21. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a return on equity of 35.73% and a net margin of 6.28%.During the same period in the prior year, the firm posted $1.52 EPS. The business’s quarterly revenue was up 3.6% on a year-over-year basis.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 6th will be issued a dividend of $0.89 per share. The ex-dividend date is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s dividend payout ratio (DPR) is presently 35.96%.

Analyst Ratings Changes

Several research firms have weighed in on FERG. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a report on Tuesday, January 6th. Sanford C. Bernstein restated an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. Barclays raised their price objective on Ferguson from $278.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. Finally, Royal Bank Of Canada boosted their target price on Ferguson from $247.00 to $271.00 and gave the company an “outperform” rating in a research note on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus target price of $262.62.

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.