Massachusetts Financial Services Co. MA Sells 128,676 Shares of Ferguson plc $FERG

Massachusetts Financial Services Co. MA lowered its stake in Ferguson plc (NYSE:FERG) by 12.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 901,004 shares of the company’s stock after selling 128,676 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.46% of Ferguson worth $202,347,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC grew its stake in Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 77 shares in the last quarter. Hemington Wealth Management raised its stake in shares of Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $37,000 after buying an additional 120 shares during the last quarter. Maseco LLP bought a new position in shares of Ferguson in the second quarter valued at $40,000. Finally, Quent Capital LLC acquired a new position in Ferguson during the third quarter worth $43,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Price Performance

Shares of FERG opened at $248.81 on Tuesday. The company’s 50-day moving average is $236.94 and its 200-day moving average is $233.26. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The firm has a market capitalization of $48.66 billion, a PE ratio of 25.13, a PEG ratio of 2.04 and a beta of 1.18. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $256.93.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.07. The firm had revenue of $8.17 billion for the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.45 earnings per share.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, January 2nd. Ferguson’s dividend payout ratio is 35.96%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group upped their price target on shares of Ferguson from $268.00 to $289.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Royal Bank Of Canada restated an “outperform” rating on shares of Ferguson in a research note on Friday, January 9th. Vertical Research began coverage on shares of Ferguson in a report on Monday, October 20th. They issued a “buy” rating and a $291.99 target price on the stock. Wall Street Zen cut Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Finally, JPMorgan Chase & Co. boosted their price target on Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $253.00.

Ferguson Company Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.