Ferguson plc $FERG Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its holdings in Ferguson plc (NYSE:FERG) by 9.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,522 shares of the company’s stock after selling 6,743 shares during the period. Corient Private Wealth LLC’s holdings in Ferguson were worth $14,703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC increased its stake in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after buying an additional 77 shares during the last quarter. Hemington Wealth Management boosted its stake in Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after acquiring an additional 52 shares during the last quarter. Brooklyn Investment Group grew its holdings in Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock worth $36,000 after acquiring an additional 115 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after purchasing an additional 120 shares during the last quarter. Finally, Maseco LLP bought a new stake in shares of Ferguson in the 2nd quarter worth about $40,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Up 0.4%

Shares of FERG stock opened at $225.99 on Friday. The firm has a market capitalization of $44.19 billion, a P/E ratio of 22.83, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a 50 day moving average of $242.03. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $256.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.07. Ferguson had a return on equity of 36.42% and a net margin of 6.28%.The business had revenue of $8.17 billion for the quarter. During the same period last year, the business posted $2.45 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be paid a $0.89 dividend. The ex-dividend date is Friday, January 2nd. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. Ferguson’s dividend payout ratio (DPR) is 33.54%.

Wall Street Analysts Forecast Growth

FERG has been the topic of several research analyst reports. Barclays reduced their price target on shares of Ferguson from $273.00 to $267.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 10th. Wall Street Zen raised Ferguson from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research report on Wednesday, September 10th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $243.00 price objective on shares of Ferguson in a research note on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.47.

Insider Activity at Ferguson

In other Ferguson news, insider Kevin Michael Murphy sold 8,800 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $234.13, for a total transaction of $2,060,344.00. Following the completion of the transaction, the insider directly owned 159,931 shares of the company’s stock, valued at $37,444,645.03. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James A. Paisley sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total transaction of $710,910.00. Following the completion of the transaction, the insider owned 2,211 shares of the company’s stock, valued at approximately $523,940.67. This trade represents a 57.57% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 29,264 shares of company stock valued at $6,853,349. Company insiders own 0.18% of the company’s stock.

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.