Parnassus Investments LLC Trims Stake in Ferguson plc $FERG

Parnassus Investments LLC reduced its position in Ferguson plc (NYSE:FERG) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,025,659 shares of the company’s stock after selling 116,940 shares during the quarter. Ferguson accounts for approximately 1.6% of Parnassus Investments LLC’s holdings, making the stock its 24th biggest holding. Parnassus Investments LLC owned approximately 1.54% of Ferguson worth $679,502,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ferguson by 23.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after buying an additional 2,940 shares during the last quarter. Caxton Associates LLP purchased a new stake in Ferguson in the first quarter valued at $310,000. Empowered Funds LLC raised its stake in shares of Ferguson by 96.1% during the 1st quarter. Empowered Funds LLC now owns 29,251 shares of the company’s stock valued at $4,687,000 after buying an additional 14,338 shares during the last quarter. SCS Capital Management LLC acquired a new position in shares of Ferguson in the 1st quarter valued at about $435,000. Finally, Focus Partners Wealth boosted its stake in shares of Ferguson by 22.7% in the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after buying an additional 581 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FERG has been the topic of a number of analyst reports. Vertical Research initiated coverage on Ferguson in a research report on Monday, October 20th. They set a “buy” rating and a $291.99 target price on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferguson in a report on Friday. Weiss Ratings reissued a “buy (b-)” rating on shares of Ferguson in a research note on Wednesday, October 8th. Barclays lowered their price objective on Ferguson from $273.00 to $267.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Ferguson in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $252.31.

Insider Buying and Selling at Ferguson

In other Ferguson news, insider Allison Stirrup sold 969 shares of the business’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $234.23, for a total value of $226,968.87. Following the completion of the transaction, the insider directly owned 5,058 shares in the company, valued at approximately $1,184,735.34. The trade was a 16.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ian T. Graham sold 606 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $239.33, for a total transaction of $145,033.98. Following the completion of the transaction, the insider owned 7,714 shares in the company, valued at $1,846,191.62. This represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 29,264 shares of company stock valued at $6,853,349. Corporate insiders own 0.18% of the company’s stock.

Ferguson Price Performance

Ferguson stock opened at $238.54 on Friday. The firm has a market cap of $46.65 billion, a PE ratio of 24.10, a price-to-earnings-growth ratio of 1.89 and a beta of 1.18. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $256.93. The company’s 50 day moving average is $237.17 and its two-hundred day moving average is $231.96.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. The company had revenue of $8.17 billion during the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.45 EPS.

Ferguson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, January 2nd. This is an increase from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is 35.96%.

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.