Citigroup Inc. Decreases Stock Holdings in Ferguson plc (NASDAQ:FERG)

Citigroup Inc. cut its stake in Ferguson plc (NASDAQ:FERG) by 3.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 609,972 shares of the company’s stock after selling 23,062 shares during the period. Citigroup Inc. owned approximately 0.30% of Ferguson worth $121,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eagle Asset Management Inc. grew its holdings in shares of Ferguson by 79.6% in the third quarter. Eagle Asset Management Inc. now owns 646,954 shares of the company’s stock valued at $134,217,000 after purchasing an additional 286,691 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Ferguson by 19.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 725,961 shares of the company’s stock valued at $143,983,000 after purchasing an additional 117,226 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of Ferguson by 13.1% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 25,882 shares of the company’s stock valued at $5,139,000 after buying an additional 3,000 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Ferguson during the 3rd quarter worth approximately $1,011,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Ferguson during the 3rd quarter worth approximately $6,833,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $201,750. This trade represents a 56.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction of $224,963.96. Following the sale, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at approximately $378,696.04. This trade represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock worth $2,477,901 in the last quarter. 0.16% of the stock is owned by company insiders.

Ferguson Stock Up 1.2 %

Shares of FERG opened at $208.92 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The stock has a market capitalization of $41.94 billion, a PE ratio of 21.31, a P/E/G ratio of 2.01 and a beta of 1.20. The company’s 50-day simple moving average is $200.83 and its 200-day simple moving average is $202.84. Ferguson plc has a 1 year low of $166.21 and a 1 year high of $225.63.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.77 EPS. Analysts forecast that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors 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 1.51%. Ferguson’s payout ratio is 37.05%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FERG shares. UBS Group increased their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Oppenheimer assumed coverage on Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target for the company. Robert W. Baird boosted their price objective on shares of Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company increased 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. Finally, Barclays boosted their price target on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note 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’s stock. According to MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.38.

About Ferguson

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.