Northwestern Mutual Wealth Management Co. Trims Position in Ferguson plc (NASDAQ:FERG)

Northwestern Mutual Wealth Management Co. reduced its holdings in Ferguson plc (NASDAQ:FERG) by 68.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 429 shares of the company’s stock after selling 938 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Ferguson were worth $83,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new stake in Ferguson in the fourth quarter valued at $25,000. EdgeRock Capital LLC acquired a new stake in Ferguson during the second quarter worth about $32,000. MCF Advisors LLC purchased a new position in Ferguson during the first quarter valued at approximately $47,000. Versant Capital Management Inc lifted its holdings in Ferguson by 2,462.5% in the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after acquiring an additional 394 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in Ferguson in the 2nd quarter worth approximately $105,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FERG shares. Wells Fargo & Company cut their target price on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Barclays upped their price objective on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. UBS Group raised their target price on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada upped their price target on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Robert W. Baird raised their price objective on Ferguson from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus price target of $231.57.

Ferguson Price Performance

NASDAQ:FERG opened at $198.64 on Friday. The firm has a market cap of $39.87 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 3.31 and a beta of 1.20. The stock has a 50 day moving average of $200.24 and a two-hundred day moving average of $205.74. Ferguson plc has a 12 month low of $147.62 and a 12 month high of $225.63. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.86 by $0.12. The firm had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.77 EPS. On average, analysts expect that Ferguson plc will post 9.86 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, September 27th. Ferguson’s dividend payout ratio (DPR) is 37.05%.

About Ferguson

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.