Candriam S.C.A. Sells 2,810 Shares of Ferguson plc $FERG

Candriam S.C.A. reduced its stake in shares of Ferguson plc (NYSE:FERG) by 4.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 61,367 shares of the company’s stock after selling 2,810 shares during the period. Candriam S.C.A.’s holdings in Ferguson were worth $13,364,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Hemington Wealth Management boosted its position in shares of Ferguson by 51.5% during the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Ferguson by 0.8% during the 1st quarter. US Bancorp DE now owns 7,394 shares of the company’s stock valued at $1,185,000 after purchasing an additional 59 shares during the last quarter. Compound Planning Inc. grew its position in shares of Ferguson by 4.6% during the first quarter. Compound Planning Inc. now owns 1,386 shares of the company’s stock valued at $222,000 after purchasing an additional 61 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 77 shares during the last quarter. Finally, Natural Investments LLC increased its holdings in shares of Ferguson by 1.5% in the second quarter. Natural Investments LLC now owns 5,445 shares of the company’s stock worth $1,185,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

FERG has been the subject of a number of research reports. Robert W. Baird increased their price target on Ferguson from $260.00 to $262.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. UBS Group increased their target price on Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. raised their target price on shares of Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Barclays upped their price target on shares of Ferguson from $247.00 to $273.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Finally, Sanford C. Bernstein began coverage on shares of Ferguson in a research note on Wednesday. They issued an “outperform” rating and a $288.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $243.75.

Ferguson Stock Performance

NYSE:FERG opened at $242.87 on Friday. The stock has a market cap of $47.60 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 2.05 and a beta of 1.18. The firm’s fifty day moving average is $236.73. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $256.93. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, topping the consensus estimate of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.44 billion.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, September 26th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, September 26th. Ferguson’s dividend payout ratio is presently 35.55%.

Insider Activity at Ferguson

In related news, CFO William Brundage sold 3,000 shares of the stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $233.32, for a total value of $699,960.00. Following the sale, the chief financial officer directly owned 52,631 shares of the company’s stock, valued at $12,279,864.92. This represents a 5.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kevin Michael Murphy sold 8,800 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $234.13, for a total transaction of $2,060,344.00. Following the completion of the sale, the insider directly owned 159,931 shares of the company’s stock, valued at approximately $37,444,645.03. The trade was a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,264 shares of company stock worth $6,853,349 in the last three months. 0.18% of the stock is owned by insiders.

Ferguson Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.