Natixis Advisors LLC Cuts Holdings in Ferguson plc (NASDAQ:FERG)

Natixis Advisors LLC decreased its position in Ferguson plc (NASDAQ:FERG) by 15.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 140,238 shares of the company’s stock after selling 24,659 shares during the period. Natixis Advisors LLC owned about 0.07% of Ferguson worth $27,847,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Asset Dedication LLC purchased a new position in Ferguson in the third quarter valued at $27,000. EdgeRock Capital LLC purchased a new position in Ferguson in the second quarter valued at $32,000. Capital Performance Advisors LLP purchased a new position in Ferguson in the third quarter valued at $37,000. Reston Wealth Management LLC purchased a new position in Ferguson in the third quarter valued at $40,000. Finally, Ashton Thomas Securities LLC purchased a new position in Ferguson in the third quarter valued at $40,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Insider Activity

In other news, CAO Richard Winckler sold 1,325 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.75, for a total value of $267,318.75. Following the sale, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at approximately $201,750. The trade was a 56.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total transaction of $295,361.60. Following the completion of the sale, the chief marketing officer now directly owns 5,205 shares in the company, valued at $1,047,246. This trade represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,313 shares of company stock valued at $2,477,901. Company insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their target price on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. UBS Group boosted their target price on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company boosted their target price on shares of Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Barclays boosted their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Finally, Citigroup boosted their target price on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Ferguson Stock Performance

NASDAQ:FERG opened at $200.83 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The firm has a market capitalization of $40.31 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.94 and a beta of 1.20. The company’s 50-day moving average is $199.66 and its two-hundred day moving average is $202.99. Ferguson plc has a 1-year low of $164.22 and a 1-year high of $225.63.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. Ferguson’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.77 EPS. Analysts forecast that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Friday, September 27th. Ferguson’s dividend payout ratio (DPR) is 37.05%.

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.