Ferguson plc (NASDAQ:FERG) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its stake in Ferguson plc (NASDAQ:FERG) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,905 shares of the company’s stock after selling 162 shares during the quarter. Raymond James Trust N.A.’s holdings in Ferguson were worth $1,768,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Asset Dedication LLC purchased a new stake in Ferguson in the third quarter valued at approximately $27,000. EdgeRock Capital LLC purchased a new stake in shares of Ferguson in the 2nd quarter valued at $32,000. Capital Performance Advisors LLP purchased a new stake in shares of Ferguson in the 3rd quarter valued at $37,000. Peterson Financial Group Inc. purchased a new position in Ferguson during the 3rd quarter valued at about $39,000. Finally, Ashton Thomas Securities LLC acquired a new position in Ferguson in the 3rd quarter valued at about $40,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 1.2 %

Shares of NASDAQ FERG opened at $208.94 on Friday. The business has a 50-day moving average of $200.83 and a two-hundred day moving average of $202.73. The company has a market capitalization of $41.94 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. Ferguson plc has a 1 year low of $166.21 and a 1 year high of $225.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

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

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, September 27th. Ferguson’s payout ratio is 37.05%.

Insider Activity at Ferguson

In other Ferguson news, CAO Richard Winckler sold 1,325 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.75, for a total value of $267,318.75. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares in the company, valued at $201,750. This represents a 56.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the transaction, the senior vice president now directly owns 1,882 shares in the company, 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 ninety days. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on FERG shares. Barclays increased their price target on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Royal Bank of Canada increased their target price on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Robert W. Baird boosted their price target on shares of Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group increased their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Citigroup boosted their target price on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $233.38.

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.