Ferguson plc (NASDAQ:FERG) Shares Sold by Wishbone Management LP

Wishbone Management LP trimmed its stake in shares of Ferguson plc (NASDAQ:FERG) by 33.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,000 shares of the company’s stock after selling 105,000 shares during the period. Ferguson makes up about 14.9% of Wishbone Management LP’s investment portfolio, making the stock its 3rd biggest position. Wishbone Management LP owned approximately 0.10% of Ferguson worth $41,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of FERG. CWM LLC grew its holdings in shares of Ferguson by 303.7% in the 3rd quarter. CWM LLC now owns 4,550 shares of the company’s stock valued at $904,000 after buying an additional 3,423 shares during the period. Manning & Napier Advisors LLC bought a new position in Ferguson during the second quarter worth about $2,834,000. Swedbank AB bought a new position in Ferguson during the first quarter worth about $26,379,000. Entropy Technologies LP grew its stake in Ferguson by 66.2% in the third quarter. Entropy Technologies LP now owns 51,647 shares of the company’s stock valued at $10,256,000 after acquiring an additional 20,580 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Ferguson by 380.6% in the second quarter. Bank of Montreal Can now owns 159,411 shares of the company’s stock worth $32,309,000 after acquiring an additional 126,242 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Insider Buying and Selling at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the transaction, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. This represents a 70.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.20, for a total value of $295,361.60. Following the transaction, the chief marketing officer now owns 5,205 shares in the company, valued at approximately $1,047,246. This trade represents a 22.00 % decrease in their position. 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 over the last ninety days. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Oppenheimer initiated coverage on Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective on the stock. Citigroup lifted their price target 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. Barclays increased their price objective on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Royal Bank of Canada upped 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. Finally, Wells Fargo & Company lifted their price target on Ferguson from $225.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.38.

Ferguson Stock Performance

Shares of FERG opened at $213.27 on Thursday. Ferguson plc has a one year low of $166.21 and a one year high of $225.63. The company has a market cap of $42.81 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 2.06 and a beta of 1.20. The firm has a 50-day moving average of $201.32 and a 200-day moving average of $202.52. 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 announced its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the previous year, the business earned $2.77 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts forecast that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were given a dividend of $0.79 per share. The ex-dividend date was Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 1.48%. 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.