Evelyn Partners Investment Management Services Ltd Trims Position in Ferguson plc $FERG

Evelyn Partners Investment Management Services Ltd cut its holdings in shares of Ferguson plc (NYSE:FERG) by 66.6% during the second quarter, Holdings Channel.com reports. The fund owned 3,939 shares of the company’s stock after selling 7,861 shares during the period. Evelyn Partners Investment Management Services Ltd’s holdings in Ferguson were worth $858,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. True Wealth Design LLC lifted 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 buying an additional 77 shares in the last quarter. Hemington Wealth Management increased its holdings in shares of Ferguson by 51.5% in the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Ferguson by 230.8% in the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after buying an additional 120 shares in the last quarter. Maseco LLP bought a new position in Ferguson during the second quarter valued at approximately $40,000. Finally, Brooklyn Investment Group grew its holdings in Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock valued at $36,000 after buying an additional 115 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

NYSE FERG opened at $236.43 on Friday. The firm’s 50-day simple moving average is $237.81. Ferguson plc has a one year low of $146.00 and a one year high of $256.93. The stock has a market cap of $46.34 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. 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 issued its quarterly earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.48. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.44 billion. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, September 26th were paid a $0.83 dividend. The ex-dividend date was Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s dividend payout ratio is presently 35.55%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FERG. UBS Group upped their price objective on Ferguson from $204.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, September 17th. 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. Robert W. Baird lifted their price objective on shares of Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Vertical Research initiated coverage on Ferguson in a research note on Monday, October 20th. They set a “buy” rating and a $291.99 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on Ferguson from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $243.75.

Insider Activity

In other Ferguson news, insider Ian T. Graham sold 4,864 shares of Ferguson stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $233.22, for a total transaction of $1,134,382.08. Following the completion of the transaction, the insider owned 7,769 shares in the company, valued at approximately $1,811,886.18. This trade represents a 38.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James A. Paisley sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total value of $710,910.00. Following the completion of the transaction, the insider directly owned 2,211 shares of the company’s stock, valued at $523,940.67. The trade was a 57.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,264 shares of company stock valued at $6,853,349 over the last quarter. Insiders own 0.18% of the company’s stock.

Ferguson Company 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.