Ferguson plc $FERG Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC cut its holdings in Ferguson plc (NYSE:FERG) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,792 shares of the company’s stock after selling 3,576 shares during the period. Trillium Asset Management LLC owned approximately 0.06% of Ferguson worth $24,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Optas LLC boosted its position in shares of Ferguson by 12.1% during the 3rd quarter. Optas LLC now owns 1,286 shares of the company’s stock valued at $286,000 after purchasing an additional 139 shares in the last quarter. Phoenix Financial Ltd. acquired a new stake in Ferguson during the third quarter worth approximately $777,000. Danske Bank A S grew its stake in Ferguson by 10.5% during the third quarter. Danske Bank A S now owns 116,754 shares of the company’s stock worth $25,992,000 after purchasing an additional 11,100 shares during the period. ProVise Management Group LLC increased its holdings in Ferguson by 21.2% in the third quarter. ProVise Management Group LLC now owns 32,687 shares of the company’s stock worth $7,277,000 after purchasing an additional 5,709 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Ferguson by 39.5% in the third quarter. Allworth Financial LP now owns 1,611 shares of the company’s stock worth $382,000 after purchasing an additional 456 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Up 0.7%

Shares of FERG stock traded up $1.74 during trading hours on Friday, reaching $256.63. The company had a trading volume of 1,050,253 shares, compared to its average volume of 1,563,443. The company has a market cap of $49.70 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 1.80 and a beta of 1.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.74 and a quick ratio of 0.93. Ferguson plc has a 12 month low of $212.13 and a 12 month high of $271.64. The business has a fifty day simple moving average of $228.99 and a 200-day simple moving average of $237.33.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Monday, November 9th. The company reported $3.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.15. The business had revenue of $9.03 billion during the quarter. Ferguson had a return on equity of 37.69% and a net margin of 6.73%. On average, research analysts expect that Ferguson plc will post 11.50 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 8th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, November 20th. Ferguson’s payout ratio is currently 41.83%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Ferguson from $295.00 to $292.00 in a research report on Thursday, October 15th. Deutsche Bank reduced their price target on shares of Ferguson from $261.00 to $235.00 in a report on Thursday, October 8th. The Goldman Sachs Group decreased their price target on shares of Ferguson from $290.00 to $270.00 and set a “neutral” rating for the company in a research note on Tuesday, September 15th. Rothschild & Co Redburn lifted their price target on shares of Ferguson from $295.00 to $307.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Barclays upped their price objective on shares of Ferguson from $313.00 to $314.00 and gave the company an “overweight” rating in a report on Tuesday, November 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $289.50.

Insider Activity

In other news, insider Jake Schlicher sold 5,177 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $230.92, for a total value of $1,195,472.84. Following the completion of the sale, the insider owned 9,490 shares in the company, valued at $2,191,430.80. This represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO William Brundage sold 5,986 shares of the stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $218.74, for a total transaction of $1,309,377.64. Following the completion of the sale, the chief financial officer owned 54,908 shares of the company’s stock, valued at approximately $12,010,575.92. This represents a 9.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 43,120 shares of company stock worth $9,688,839. Company insiders own 0.15% of the company’s stock.

Key Ferguson News

Here’s some of the latest news about FERG:

• Positive Sentiment: Analyst commentary has been supportive, with UBS raising its price target and Barclays and Robert W. Baird expressing confidence in further share-price appreciation. Ferguson also reported quarterly EPS of $3.43, above the $3.28 consensus. UBS target increase Barclays outlook Baird outlook
• Neutral Sentiment: Ferguson declared a quarterly dividend of $0.89 per share, equivalent to $3.56 annually and a yield of about 1.4%. The payout provides income but is unlikely by itself to substantially change the investment outlook.
• Negative Sentiment: Three insiders sold a combined 4,312 shares for about $1.12 million, reducing their respective holdings. One sale was made under a pre-arranged Rule 10b5-1 plan; insider transactions can have various motivations, but the cluster of sales may be a near-term sentiment headwind. SEC filing

Ferguson Company Profile

Ferguson plc is a distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, and fire protection products. It supplies contractors and other professional customers with products, services, and expertise for residential, commercial, industrial, and infrastructure projects. The company serves customers primarily in the United States and Canada through branches, distribution centers, and digital channels. Its offerings include pipes, valves and fittings, plumbing fixtures, HVAC equipment, water and wastewater products, and fire protection systems.