Oppenheimer Asset Management Inc. Sells 3,325 Shares of Ferguson plc $FERG

Oppenheimer Asset Management Inc. decreased its holdings in shares of Ferguson plc (NYSE:FERG) by 7.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 43,348 shares of the company’s stock after selling 3,325 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Ferguson were worth $9,735,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Ferguson in the second quarter worth $395,401,000. Franklin Resources Inc. grew its holdings in shares of Ferguson by 39.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock worth $926,830,000 after purchasing an additional 1,201,493 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Ferguson in the second quarter valued at $130,650,000. Artisan Partners Limited Partnership boosted its stake in Ferguson by 89.5% during the second quarter. Artisan Partners Limited Partnership now owns 759,687 shares of the company’s stock worth $165,422,000 after buying an additional 358,853 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its stake in shares of Ferguson by 108.8% in the 3rd quarter. C WorldWide Group Holding A S now owns 535,363 shares of the company’s stock valued at $120,232,000 after buying an additional 278,971 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Down 0.4%

Shares of NYSE FERG opened at $261.68 on Tuesday. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $265.00. The firm’s 50-day simple moving average is $239.94 and its 200 day simple moving average is $236.70. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. The company has a market cap of $51.17 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 2.18 and a beta of 1.17.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. The company had revenue of $8.17 billion during the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.45 earnings per share.

Ferguson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, January 2nd. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio is 35.96%.

Analyst Ratings Changes

Several research firms recently issued reports on FERG. Vertical Research initiated coverage on shares of Ferguson in a research report on Monday, October 20th. They issued a “buy” rating and a $291.99 price target for the company. Wells Fargo & Company raised their target price on Ferguson from $275.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. UBS Group lowered their price target on Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferguson in a report on Friday, January 9th. Finally, Barclays boosted their target price on shares of Ferguson from $267.00 to $278.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.