Mackenzie Financial Corp Sells 91,135 Shares of Ferguson plc (NASDAQ:FERG)

Mackenzie Financial Corp decreased its holdings in shares of Ferguson plc (NASDAQ:FERGGet Rating) by 82.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,937 shares of the company’s stock after selling 91,135 shares during the period. Mackenzie Financial Corp’s holdings in Ferguson were worth $2,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FERG. Kestra Advisory Services LLC lifted its stake in Ferguson by 35.3% during the first quarter. Kestra Advisory Services LLC now owns 1,510 shares of the company’s stock worth $203,000 after purchasing an additional 394 shares during the period. Comerica Bank increased its holdings in shares of Ferguson by 37.7% during the first quarter. Comerica Bank now owns 4,997 shares of the company’s stock worth $692,000 after buying an additional 1,369 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in shares of Ferguson during the first quarter worth approximately $294,000. Signaturefd LLC increased its holdings in shares of Ferguson by 9.3% during the first quarter. Signaturefd LLC now owns 1,228 shares of the company’s stock worth $165,000 after buying an additional 104 shares in the last quarter. Finally, FDx Advisors Inc. increased its holdings in shares of Ferguson by 68.0% during the first quarter. FDx Advisors Inc. now owns 7,486 shares of the company’s stock worth $1,004,000 after buying an additional 3,029 shares in the last quarter. Institutional investors own 43.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FERG. Robert W. Baird raised their price objective on shares of Ferguson from $132.00 to $140.00 in a report on Wednesday, September 28th. Truist Financial dropped their price objective on shares of Ferguson from $140.00 to $130.00 in a report on Wednesday, September 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Ferguson from £132 ($156.08) to £125 ($147.81) in a report on Friday, September 30th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Ferguson has a consensus rating of “Hold” and an average target price of $8,091.30.

Ferguson Trading Up 0.9 %

Shares of NASDAQ FERG opened at $117.90 on Tuesday. The company’s fifty day moving average is $110.79 and its 200-day moving average is $114.95. The stock has a market cap of $26.53 billion, a price-to-earnings ratio of 11.95 and a beta of 1.27. Ferguson plc has a twelve month low of $99.16 and a twelve month high of $183.67. The company has a quick ratio of 0.90, a current ratio of 1.65 and a debt-to-equity ratio of 0.98.

Ferguson Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, December 8th. Stockholders of record on Friday, October 28th will be given a dividend of $1.91 per share. This represents a dividend yield of 2.6%. This is a boost from Ferguson’s previous semi-annual dividend of $0.84. The ex-dividend date of this dividend is Thursday, October 27th. Ferguson’s dividend payout ratio (DPR) is currently 39.38%.

About Ferguson

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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.

See Also

Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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