River Road Asset Management LLC Lowers Stock Holdings in Ferguson plc (NASDAQ:FERG)

River Road Asset Management LLC trimmed its position in Ferguson plc (NASDAQ:FERG) by 26.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,682 shares of the company’s stock after selling 7,461 shares during the quarter. River Road Asset Management LLC’s holdings in Ferguson were worth $4,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in shares of Ferguson by 375.4% in the second quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock worth $1,218,032,000 after buying an additional 4,966,821 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ferguson by 589.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock worth $353,778,000 after buying an additional 1,384,570 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Ferguson by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock worth $302,781,000 after buying an additional 153,757 shares in the last quarter. First Pacific Advisors LP raised its stake in Ferguson by 1.4% in the second quarter. First Pacific Advisors LP now owns 1,104,289 shares of the company’s stock valued at $213,846,000 after purchasing an additional 15,700 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Ferguson by 1.9% in the second quarter. Envestnet Asset Management Inc. now owns 967,849 shares of the company’s stock valued at $187,424,000 after purchasing an additional 18,504 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FERG has been the topic of a number of recent analyst reports. Citigroup raised their target price on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Wells Fargo & Company lowered their target price on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Jefferies Financial Group increased their price target on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Robert W. Baird increased their price target on shares of Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada increased their price target on shares of Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.50.

Insider Transactions at Ferguson

In other news, VP Michael Jacobs sold 2,624 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the transaction, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the sale, the vice president now owns 1,116 shares in the company, valued at $224,271.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the sale, the senior vice president now owns 1,882 shares in the company, valued at approximately $378,696.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,313 shares of company stock worth $2,477,901. Insiders own 0.16% of the company’s stock.

Ferguson Stock Up 2.0 %

Shares of Ferguson stock opened at $202.09 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. Ferguson plc has a 52-week low of $154.61 and a 52-week high of $225.63. The stock has a market capitalization of $40.57 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.93 and a beta of 1.20. The company’s 50 day moving average price is $198.48 and its 200-day moving average price is $203.41.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The firm had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter last year, the business earned $2.77 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. Equities research analysts forecast that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Friday, September 27th. Ferguson’s dividend payout ratio is 37.05%.

Ferguson Company 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.