CIBC Asset Management Inc Sells 772 Shares of Ferguson plc (NASDAQ:FERG)

CIBC Asset Management Inc lessened its holdings in shares of Ferguson plc (NASDAQ:FERGFree Report) by 25.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,206 shares of the company’s stock after selling 772 shares during the quarter. CIBC Asset Management Inc’s holdings in Ferguson were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FERG. Norges Bank bought a new stake in Ferguson during the 4th quarter valued at $988,852,000. Brown Advisory Inc. increased its stake in Ferguson by 44.9% during the 4th quarter. Brown Advisory Inc. now owns 2,371,704 shares of the company’s stock valued at $457,905,000 after purchasing an additional 735,270 shares in the last quarter. Cantillon Capital Management LLC increased its stake in Ferguson by 58.4% during the 4th quarter. Cantillon Capital Management LLC now owns 1,872,863 shares of the company’s stock valued at $361,594,000 after purchasing an additional 690,643 shares in the last quarter. APG Asset Management US Inc. bought a new stake in shares of Ferguson in the 4th quarter worth $89,758,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Ferguson by 38.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,305,493 shares of the company’s stock worth $252,052,000 after acquiring an additional 365,843 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Trading Up 0.7 %

Shares of FERG opened at $200.09 on Tuesday. The business’s 50-day moving average price is $212.47 and its 200-day moving average price is $200.87. Ferguson plc has a twelve month low of $144.59 and a twelve month high of $224.86. The stock has a market cap of $40.41 billion, a PE ratio of 21.87, a P/E/G ratio of 8.30 and a beta of 1.24. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

Ferguson (NASDAQ:FERGGet Free Report) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.05. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The firm had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.32 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that Ferguson plc will post 9.65 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 14th will be given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Friday, June 14th. Ferguson’s dividend payout ratio (DPR) is 34.54%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FERG. Barclays reduced their target price on shares of Ferguson from $236.00 to $232.00 and set an “overweight” rating for the company in a research note on Wednesday, June 5th. Royal Bank of Canada cut their price target on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.50.

View Our Latest Research Report on FERG

Ferguson Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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