Intech Investment Management LLC reduced its holdings in shares of Ferguson plc (NASDAQ:FERG – Free Report) by 39.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,210 shares of the company’s stock after selling 7,906 shares during the period. Intech Investment Management LLC’s holdings in Ferguson were worth $1,921,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of Ferguson in the 1st quarter valued at about $41,000. Exchange Traded Concepts LLC lifted its position in Ferguson by 90.7% in the 2nd quarter. Exchange Traded Concepts LLC now owns 204 shares of the company’s stock valued at $32,000 after acquiring an additional 97 shares in the last quarter. SouthState Corp bought a new position in Ferguson in the 1st quarter valued at about $30,000. Heritage Wealth Advisors bought a new position in Ferguson in the 1st quarter valued at about $33,000. Finally, Milestone Investment Advisors LLC bought a new position in shares of Ferguson during the 1st quarter worth approximately $38,000.
In related news, VP Michael Jacobs sold 5,057 shares of Ferguson stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $164.71, for a total value of $832,938.47. Following the completion of the transaction, the vice president now owns 499 shares in the company, valued at $82,190.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Michael Jacobs sold 5,057 shares of Ferguson stock in a transaction on Monday, October 16th. The shares were sold at an average price of $164.71, for a total value of $832,938.47. Following the transaction, the vice president now directly owns 499 shares of the company’s stock, valued at approximately $82,190.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William T. Thees, Jr. sold 204 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were sold at an average price of $164.94, for a total transaction of $33,647.76. Following the completion of the transaction, the insider now directly owns 25,428 shares in the company, valued at $4,194,094.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,703 shares of company stock valued at $4,563,008. 0.15% of the stock is currently owned by company insiders.
Ferguson Stock Performance
Ferguson (NASDAQ:FERG – Get Free Report) last released its quarterly earnings data on Tuesday, September 26th. The company reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.33. Ferguson had a net margin of 6.35% and a return on equity of 41.58%. The company had revenue of $7.84 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the previous year, the company earned $2.85 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that Ferguson plc will post 9.69 EPS for the current fiscal year.
Ferguson Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Friday, October 6th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Thursday, October 5th. Ferguson’s dividend payout ratio is presently 32.89%.
Wall Street Analysts Forecast Growth
FERG has been the topic of several recent analyst reports. Wells Fargo & Company initiated coverage on shares of Ferguson in a research report on Tuesday, October 17th. They set an “equal weight” rating on the stock. Bank of America lowered shares of Ferguson from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 31st. Raymond James assumed coverage on shares of Ferguson in a research note on Friday, September 1st. They set an “outperform” rating for the company. Finally, Royal Bank of Canada restated an “outperform” rating on shares of Ferguson in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and an average target price of $4,142.63.
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.
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