Ferguson plc (NASDAQ:FERG) Shares Sold by Tran Capital Management L.P.

Tran Capital Management L.P. lowered its position in Ferguson plc (NASDAQ:FERG) by 9.3% during the first quarter, HoldingsChannel.com reports. The fund owned 202,289 shares of the company’s stock after selling 20,843 shares during the quarter. Ferguson accounts for approximately 4.4% of Tran Capital Management L.P.’s holdings, making the stock its 7th largest holding. Tran Capital Management L.P.’s holdings in Ferguson were worth $32,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Vontobel Holding Ltd. boosted its position in Ferguson by 339.9% during the fourth quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock worth $214,320,000 after purchasing an additional 954,092 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Ferguson by 28.1% during the 4th quarter. V Square Quantitative Management LLC now owns 3,801 shares of the company’s stock worth $660,000 after buying an additional 833 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after buying an additional 136 shares during the last quarter. Principal Securities Inc. boosted its position in shares of Ferguson by 6.0% in the 4th quarter. Principal Securities Inc. now owns 3,086 shares of the company’s stock worth $536,000 after buying an additional 175 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Ferguson by 14.3% in the 4th quarter. CIBC Asset Management Inc now owns 8,274 shares of the company’s stock valued at $1,436,000 after acquiring an additional 1,032 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FERG shares. Wells Fargo & Company lifted their target price on shares of Ferguson from $190.00 to $230.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Wolfe Research began coverage on shares of Ferguson in a research note on Monday, March 17th. They set a “peer perform” rating for the company. Truist Financial restated a “buy” rating and set a $230.00 price objective on shares of Ferguson in a research report on Wednesday, June 4th. Barclays increased their target price on Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research report on Monday. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $217.07.

Ferguson Stock Performance

NASDAQ FERG opened at $213.35 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $225.63. The firm has a market capitalization of $42.07 billion, a P/E ratio of 25.61, a P/E/G ratio of 1.69 and a beta of 1.13. The business’s 50-day simple moving average is $176.83 and its 200-day simple moving average is $178.41.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same quarter in the prior year, the company earned $2.32 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.56%. Ferguson’s dividend payout ratio (DPR) is 41.40%.

Ferguson Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.