Fiduciary Trust Co Sells 87 Shares of Ferguson plc (NASDAQ:FERG)

Fiduciary Trust Co cut its holdings in Ferguson plc (NASDAQ:FERG) by 1.6% during the 3rd quarter, Holdings Channel reports. The firm owned 5,458 shares of the company’s stock after selling 87 shares during the period. Fiduciary Trust Co’s holdings in Ferguson were worth $1,084,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FERG. FORA Capital LLC bought a new stake in shares of Ferguson in the 3rd quarter worth approximately $857,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Ferguson by 816.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 203,416 shares of the company’s stock worth $40,392,000 after acquiring an additional 181,216 shares during the period. Bridgewater Associates LP purchased a new stake in Ferguson in the third quarter worth $204,000. Cynosure Group LLC bought a new stake in Ferguson in the third quarter valued at $359,000. Finally, Townsquare Capital LLC increased its position in Ferguson by 6.6% during the 3rd quarter. Townsquare Capital LLC now owns 3,409 shares of the company’s stock valued at $677,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on FERG shares. Citigroup lifted their target price on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Wells Fargo & Company lifted their price objective on Ferguson from $225.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays increased their target price on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Robert W. Baird lifted their price target on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada increased their price objective on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Ferguson Price Performance

FERG opened at $216.01 on Friday. Ferguson plc has a 1 year low of $167.09 and a 1 year high of $225.63. The stock has a 50-day moving average price of $201.57 and a 200-day moving average price of $202.66. The firm has a market cap of $43.36 billion, a PE ratio of 22.01, a P/E/G ratio of 2.07 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period in the previous year, the company earned $2.77 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts predict that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a dividend of $0.79 per share. The ex-dividend date was Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.46%. Ferguson’s dividend payout ratio is 37.05%.

Insiders Place Their Bets

In related news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the completion of the sale, the senior vice president now directly owns 1,882 shares in the company, valued at approximately $378,696.04. This trade represents a 37.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Richard Winckler sold 1,325 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the transaction, the chief accounting officer now owns 1,000 shares in the company, valued at $201,750. This represents a 56.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,313 shares of company stock valued at $2,477,901. Corporate insiders own 0.16% of the company’s stock.

Ferguson Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.