Southpoint Capital Advisors LP Sells 400,000 Shares of Ferguson plc (NASDAQ:FERG)

Southpoint Capital Advisors LP lessened its holdings in shares of Ferguson plc (NASDAQ:FERG) by 57.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 300,000 shares of the company’s stock after selling 400,000 shares during the period. Southpoint Capital Advisors LP owned 0.15% of Ferguson worth $52,071,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Ferguson by 7.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company’s stock valued at $135,247,000 after acquiring an additional 52,776 shares during the period. New York Life Investment Management LLC acquired a new position in shares of Ferguson during the fourth quarter valued at $587,000. Markel Group Inc. lifted its stake in shares of Ferguson by 25.4% during the fourth quarter. Markel Group Inc. now owns 106,000 shares of the company’s stock valued at $18,398,000 after acquiring an additional 21,500 shares during the period. PFG Investments LLC acquired a new position in shares of Ferguson during the fourth quarter valued at $467,000. Finally, Brentview Investment Management LLC acquired a new position in shares of Ferguson during the fourth quarter valued at $4,255,000. Institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Ferguson in a research note on Tuesday, April 1st. They set a “hold” rating and a $174.00 price target on the stock. Wells Fargo & Company increased their target price on Ferguson from $180.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Citigroup cut their target price on Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $189.00 target price on shares of Ferguson in a research note on Tuesday, March 18th. Finally, Robert W. Baird set a $190.00 target price on Ferguson and gave the company an “outperform” rating in a research note on Wednesday, March 12th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $199.38.

Ferguson Trading Up 1.6%

NASDAQ FERG opened at $184.54 on Monday. The firm has a market cap of $36.90 billion, a P/E ratio of 22.15, a P/E/G ratio of 1.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The stock’s 50-day moving average is $165.13 and its 200-day moving average is $179.38. Ferguson plc has a one year low of $146.00 and a one year high of $225.63.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.74 EPS. Sell-side analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, March 21st were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Friday, March 21st. Ferguson’s dividend payout ratio is presently 40.84%.

About Ferguson

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.