Connor Clark & Lunn Investment Management Ltd. Sells 17,294 Shares of Ferguson plc (NASDAQ:FERG)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Ferguson plc (NASDAQ:FERG) by 83.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,526 shares of the company’s stock after selling 17,294 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ferguson were worth $612,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. True Wealth Design LLC lifted its position in shares of Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after buying an additional 136 shares in the last quarter. Berbice Capital Management LLC purchased a new position in shares of Ferguson during the 4th quarter valued at about $35,000. Brooklyn Investment Group purchased a new position in shares of Ferguson during the 3rd quarter valued at about $45,000. Finally, Private Trust Co. NA lifted its position in shares of Ferguson by 92.5% during the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock valued at $45,000 after buying an additional 124 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Price Performance

Shares of FERG stock opened at $162.27 on Friday. Ferguson plc has a twelve month low of $152.52 and a twelve month high of $225.63. The stock has a market capitalization of $32.45 billion, a price-to-earnings ratio of 19.48, a P/E/G ratio of 1.69 and a beta of 1.28. The stock has a fifty day simple moving average of $175.01 and a two-hundred day simple moving average of $188.65. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. During the same quarter in the prior year, the company posted $1.74 earnings per share. Ferguson’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio (DPR) is currently 40.84%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Ferguson in a research report on Monday, March 17th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on Ferguson from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. Morgan Stanley started coverage on Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price target on the stock. Zelman & Associates cut Ferguson from a “strong-buy” rating to a “hold” rating in a report on Friday, January 17th. Finally, Bank of America raised Ferguson from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $185.00 to $225.00 in a report on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $200.67.

Ferguson 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.