Argent Capital Management LLC Reduces Stake in Ferguson plc $FERG

Argent Capital Management LLC lessened its stake in shares of Ferguson plc (NYSE:FERG) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 151,408 shares of the company’s stock after selling 3,221 shares during the period. Argent Capital Management LLC owned 0.08% of Ferguson worth $33,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Ferguson in the 3rd quarter valued at about $28,000. Cornerstone Planning Group LLC increased its holdings in shares of Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after buying an additional 82 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Ferguson during the 3rd quarter valued at approximately $34,000. Quent Capital LLC purchased a new stake in shares of Ferguson during the 3rd quarter valued at approximately $43,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in Ferguson in the third quarter valued at approximately $45,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FERG. Sanford C. Bernstein reiterated an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. Wells Fargo & Company lifted their target price on Ferguson from $280.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, February 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of Ferguson in a research note on Tuesday, February 24th. Robert W. Baird increased their price target on Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Finally, Wall Street Zen downgraded Ferguson from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average price target of $268.93.

Ferguson Stock Down 1.8%

Shares of NYSE FERG opened at $217.83 on Friday. The firm has a market cap of $42.34 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.80 and a beta of 1.17. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $271.64. The business’s 50 day moving average is $248.52 and its two-hundred day moving average is $240.07.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.During the same period in the previous year, the business earned $1.52 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 6th will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.56 annualized dividend and a yield of 1.6%. Ferguson’s dividend payout ratio is presently 35.96%.

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.