Atreides Management LP Decreases Stock Position in Ferguson plc $FERG

Atreides Management LP decreased its position in shares of Ferguson plc (NYSE:FERG) by 25.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,624 shares of the company’s stock after selling 75,332 shares during the period. Ferguson comprises approximately 1.0% of Atreides Management LP’s holdings, making the stock its 27th biggest holding. Atreides Management LP’s holdings in Ferguson were worth $49,997,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FERG. Atria Investments Inc grew its stake in Ferguson by 38.2% during the 3rd quarter. Atria Investments Inc now owns 15,401 shares of the company’s stock valued at $3,459,000 after purchasing an additional 4,259 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Ferguson in the 3rd quarter valued at approximately $1,002,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Ferguson by 11.7% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,523 shares of the company’s stock valued at $4,609,000 after purchasing an additional 2,145 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Ferguson during the 3rd quarter valued at approximately $1,252,000. Finally, Allianz Asset Management GmbH boosted its stake in shares of Ferguson by 21.0% during the 3rd quarter. Allianz Asset Management GmbH now owns 322,924 shares of the company’s stock valued at $72,522,000 after buying an additional 55,981 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Up 1.1%

FERG stock opened at $222.07 on Friday. The firm has a market cap of $43.19 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.79 and a beta of 1.17. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $271.64. The firm has a fifty day moving average price of $248.85 and a two-hundred day moving average price of $240.43. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.During the same quarter in the prior year, the company earned $1.52 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. Ferguson’s dividend payout ratio (DPR) is currently 35.96%.

Key Ferguson News

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Rebecca Ferguson (actor) confirms return window for Apple TV+ series “Silo” — entertainment press about the actress, not the company. Collider: Rebecca Ferguson on Silo
• Neutral Sentiment: Multiple outlets report Rebecca Ferguson discussing “Silo” Season 3 and Dune: Part 3 details — actor/entertainment coverage, unrelated to Ferguson plc. AOL: Silo Season 3
• Neutral Sentiment: Rebecca Ferguson appears on late-night TV (Seth Meyers) — celebrity appearance, no corporate link. MSN: Seth Meyers & Rebecca Ferguson
• Neutral Sentiment: Celebrity coverage of Sarah Ferguson (Duchess of York) — various human-interest and controversy stories (public apologies, social ties, living arrangements). These are reputational/celebrity items with no corporate relevance. Yahoo: Sarah Ferguson and Epstein
• Neutral Sentiment: Stories comparing Meghan Markle to Sarah Ferguson and articles about Priscilla Presley and Sarah Ferguson — entertainment/viral coverage, not company news. MSN: Meghan Markle comparison
• Neutral Sentiment: Reports on Sarah Ferguson’s personal comments about other celebrities and alleged tensions with the royal family — tabloid/celebrity reporting, no corporate implications. MSN: Sarah Ferguson on Lisa Marie Presley
• Neutral Sentiment: Sports feature on Brighton’s Evan Ferguson (soccer) — player/club coverage, not related to Ferguson plc’s business. NYT: Evan Ferguson feature

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FERG. Jefferies Financial Group restated a “buy” rating and issued a $300.00 price target on shares of Ferguson in a research note on Tuesday, February 24th. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferguson in a report on Thursday, January 8th. Royal Bank Of Canada boosted their target price on shares of Ferguson from $247.00 to $271.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Robert W. Baird upped their target price on shares of Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Finally, Oppenheimer increased their price target on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.93.

Ferguson Profile

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.