Handelsbanken Fonder AB Trims Stock Position in Ferguson plc $FERG

Handelsbanken Fonder AB trimmed its holdings in Ferguson plc (NYSE:FERG) by 4.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 101,903 shares of the company’s stock after selling 5,213 shares during the period. Handelsbanken Fonder AB owned approximately 0.05% of Ferguson worth $22,189,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in Ferguson in the 2nd quarter valued at approximately $438,000. FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in shares of Ferguson during the second quarter worth $210,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Ferguson in the second quarter valued at $2,657,000. Ensign Peak Advisors Inc raised its holdings in shares of Ferguson by 11.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 199,126 shares of the company’s stock valued at $43,360,000 after buying an additional 19,659 shares during the period. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Ferguson by 89.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 759,687 shares of the company’s stock valued at $165,422,000 after buying an additional 358,853 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Vertical Research initiated coverage on Ferguson in a report on Monday, October 20th. They set a “buy” rating and a $291.99 target price for the company. JPMorgan Chase & Co. raised their price objective on shares of Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Wall Street Zen upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a report on Monday, October 20th. Truist Financial increased their target price on shares of Ferguson from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $243.75.

Ferguson Trading Up 2.0%

Shares of NYSE:FERG opened at $236.43 on Friday. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $256.93. The firm has a 50 day moving average price of $237.81. The stock has a market cap of $46.34 billion, a P/E ratio of 25.31, a PEG ratio of 2.05 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

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

Ferguson Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO William Brundage sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $233.32, for a total value of $699,960.00. Following the completion of the transaction, 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 ownership of the stock. The sale 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 stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $234.13, for a total transaction of $2,060,344.00. Following the completion of the transaction, the insider owned 159,931 shares in the company, valued at $37,444,645.03. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 29,264 shares of company stock worth $6,853,349. 0.18% of the stock is currently owned by company insiders.

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.