Nisa Investment Advisors LLC Reduces Stock Position in Ferguson plc $FERG

Nisa Investment Advisors LLC cut its stake in Ferguson plc (NYSE:FERG) by 97.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 450 shares of the company’s stock after selling 17,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Ferguson were worth $98,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in FERG. T. Rowe Price Investment Management Inc. grew its position in shares of Ferguson by 101.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company’s stock valued at $667,498,000 after purchasing an additional 2,094,029 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Ferguson by 65.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company’s stock worth $713,740,000 after acquiring an additional 1,755,464 shares during the period. Wellington Management Group LLP grew its position in Ferguson by 769.5% in the first quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company’s stock worth $203,004,000 after acquiring an additional 1,121,249 shares during the period. Massachusetts Financial Services Co. MA grew its position in Ferguson by 1,036.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,020,522 shares of the company’s stock worth $163,518,000 after acquiring an additional 930,696 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in Ferguson by 29.6% in the first quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company’s stock worth $582,452,000 after acquiring an additional 831,112 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on FERG. JPMorgan Chase & Co. increased their price objective on Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research report on Wednesday, October 8th. UBS Group boosted their price target on shares of Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, September 17th. Barclays upped their price objective on shares of Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, Wall Street Zen upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $240.80.

Ferguson Stock Down 1.0%

NYSE:FERG opened at $245.02 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average price is $234.36. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $252.52. The firm has a market capitalization of $48.02 billion, a PE ratio of 26.23, a price-to-earnings-growth ratio of 2.05 and a beta of 1.17.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.48. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.44 billion.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 26th. Ferguson’s dividend payout ratio (DPR) is presently 35.55%.

Insiders Place Their Bets

In other news, insider Ian T. Graham sold 606 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $239.33, for a total value of $145,033.98. Following the sale, the insider directly owned 7,714 shares in the company, valued at approximately $1,846,191.62. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James A. Paisley sold 3,000 shares of the stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total value of $710,910.00. Following the completion of the sale, the insider owned 2,211 shares in the company, valued at approximately $523,940.67. The trade was a 57.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 29,264 shares of company stock valued at $6,853,349. 0.18% of the stock is owned by company insiders.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.