Ferguson plc (NASDAQ:FERG) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its stake in Ferguson plc (NASDAQ:FERG) by 97.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,878 shares of the company’s stock after selling 71,155 shares during the period. Teacher Retirement System of Texas’ holdings in Ferguson were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Royal London Asset Management Ltd. increased its stake in Ferguson by 3.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 1,471,611 shares of the company’s stock valued at $255,428,000 after purchasing an additional 49,510 shares during the period. First Financial Bankshares Inc purchased a new position in shares of Ferguson during the fourth quarter worth about $357,000. Xponance Inc. increased its position in Ferguson by 17.5% in the 4th quarter. Xponance Inc. now owns 21,511 shares of the company’s stock valued at $3,734,000 after acquiring an additional 3,202 shares during the period. Generali Asset Management SPA SGR acquired a new position in Ferguson in the 4th quarter valued at about $3,945,000. Finally, Polen Capital Management LLC purchased a new stake in Ferguson during the 4th quarter valued at approximately $215,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $160.61 on Wednesday. The company has a market cap of $32.11 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.69 and a beta of 1.28. Ferguson plc has a 52 week low of $152.52 and a 52 week high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The business has a fifty day simple moving average of $173.08 and a 200-day simple moving average of $187.26.

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

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 annualized dividend and a dividend yield of 2.07%. Ferguson’s dividend payout ratio (DPR) is presently 40.84%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FERG. Robert W. Baird set a $190.00 target price on Ferguson and gave the company an “outperform” rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. cut their price objective on shares of Ferguson from $205.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, March 19th. Wells Fargo & Company lowered their target price on shares of Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, March 12th. Barclays dropped their price target on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, Wolfe Research began coverage on shares of Ferguson in a research report on Monday, March 17th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $198.62.

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.