Swiss National Bank Reduces Stock Holdings in Ferguson plc (NASDAQ:FERG)

Swiss National Bank reduced its stake in shares of Ferguson plc (NASDAQ:FERG) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 599,347 shares of the company’s stock after selling 1,100 shares during the quarter. Swiss National Bank owned 0.30% of Ferguson worth $119,012,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Asset Dedication LLC acquired a new stake in Ferguson during the 3rd quarter valued at approximately $27,000. EdgeRock Capital LLC acquired a new position in shares of Ferguson in the 2nd quarter worth approximately $32,000. Capital Performance Advisors LLP acquired a new position in shares of Ferguson in the 3rd quarter worth approximately $37,000. Peterson Financial Group Inc. acquired a new position in shares of Ferguson in the 3rd quarter worth approximately $39,000. Finally, Reston Wealth Management LLC acquired a new position in Ferguson during the 3rd quarter valued at approximately $40,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of FERG stock opened at $200.83 on Tuesday. Ferguson plc has a 1-year low of $164.22 and a 1-year high of $225.63. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $40.31 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 1.94 and a beta of 1.20. The stock’s fifty day simple moving average is $199.66 and its 200-day simple moving average is $202.99.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The company had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the prior year, the company posted $2.77 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. On average, sell-side analysts predict that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.57%. Ferguson’s payout ratio is 37.05%.

Analysts Set New Price Targets

FERG has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Oppenheimer began coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective on the stock. UBS Group lifted their target price on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Citigroup lifted their target price on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Finally, Robert W. Baird lifted their target price on Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $233.38.

Insider Buying and Selling at Ferguson

In other news, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. This represents a 70.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Garland Williams sold 1,118 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the sale, the senior vice president now owns 1,882 shares of the company’s stock, valued at approximately $378,696.04. The trade was a 37.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,313 shares of company stock valued at $2,477,901 in the last 90 days. 0.16% of the stock is currently owned by insiders.

Ferguson Company Profile

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.