Ensign Peak Advisors Inc Sells 1,705 Shares of Ferguson plc (NASDAQ:FERG)

Ensign Peak Advisors Inc trimmed its position in shares of Ferguson plc (NASDAQ:FERG) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 136,828 shares of the company’s stock after selling 1,705 shares during the period. Ensign Peak Advisors Inc owned approximately 0.07% of Ferguson worth $26,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FERG. Bank of New York Mellon Corp increased its stake in Ferguson by 375.4% during the second quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after acquiring an additional 4,966,821 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Ferguson by 589.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock valued at $353,778,000 after acquiring an additional 1,384,570 shares during the period. Capital World Investors acquired a new stake in Ferguson during the first quarter valued at approximately $104,723,000. APG Asset Management US Inc. acquired a new stake in Ferguson during the fourth quarter valued at approximately $89,758,000. Finally, Robeco Schweiz AG acquired a new stake in Ferguson during the fourth quarter valued at approximately $61,782,000. 81.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Jefferies Financial Group lifted their price objective on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup boosted their target price on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Wells Fargo & Company reduced their target price on Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Finally, Robert W. Baird boosted their target price on Ferguson from $222.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $231.57.

Ferguson Stock Down 5.6 %

NASDAQ:FERG opened at $196.52 on Monday. The stock’s fifty day moving average price is $204.73 and its two-hundred day moving average price is $206.86. Ferguson plc has a 52-week low of $147.62 and a 52-week high of $225.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The company has a market cap of $39.69 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 6.13 and a beta of 1.21.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data 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. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.77 EPS. On average, analysts anticipate that Ferguson plc will post 9.63 EPS for the current year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, September 27th. Ferguson’s payout ratio is 34.54%.

Ferguson announced that its Board of Directors has approved a stock repurchase plan on Tuesday, June 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 2.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.