Ferguson plc $FERG Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Ferguson plc (NYSE:FERG) by 88.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,300 shares of the company’s stock after selling 47,349 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Ferguson were worth $1,415,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC increased its stake in Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 77 shares during the last quarter. Hemington Wealth Management boosted its holdings in shares of Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after buying an additional 52 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $37,000 after buying an additional 120 shares during the last quarter. Quent Capital LLC acquired a new stake in Ferguson during the 3rd quarter worth $43,000. Finally, Harbour Investments Inc. lifted its position in Ferguson by 61.3% in the second quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock valued at $53,000 after acquiring an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 0.0%

FERG opened at $251.63 on Thursday. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $256.93. The business has a 50 day moving average price of $238.02 and a two-hundred day moving average price of $234.55. 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 $49.21 billion, a PE ratio of 25.42, a P/E/G ratio of 2.06 and a beta of 1.18.

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

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 dividend of $0.89 per share. 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 an increase from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s payout ratio is currently 35.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FERG shares. Wells Fargo & Company raised their price objective on Ferguson from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. UBS Group dropped their price target on Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferguson in a report on Thursday, January 8th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $253.00.

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.