Renaissance Group LLC Reduces Holdings in Ferguson plc $FERG

Renaissance Group LLC reduced its position in Ferguson plc (NYSE:FERG) by 14.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,879 shares of the company’s stock after selling 320 shares during the quarter. Renaissance Group LLC’s holdings in Ferguson were worth $409,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Smithfield Trust Co raised its position in shares of Ferguson by 3.5% in the second quarter. Smithfield Trust Co now owns 1,342 shares of the company’s stock valued at $291,000 after buying an additional 46 shares during the last quarter. Hemington Wealth Management grew 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 in the last quarter. US Bancorp DE raised its holdings in Ferguson by 0.8% in the 1st quarter. US Bancorp DE now owns 7,394 shares of the company’s stock valued at $1,185,000 after acquiring an additional 59 shares during the last quarter. Compound Planning Inc. lifted its stake in Ferguson by 4.6% in the 1st quarter. Compound Planning Inc. now owns 1,386 shares of the company’s stock worth $222,000 after purchasing an additional 61 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in Ferguson by 145.3% in the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 77 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Vertical Research started coverage on Ferguson in a report on Monday, October 20th. They issued a “buy” rating and a $291.99 price target for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a report on Wednesday, October 8th. Barclays lifted their price target on Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a report on Wednesday, September 10th. Finally, UBS Group raised their price objective on shares of Ferguson from $204.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.75.

Insider Activity at Ferguson

In other news, insider Ian T. Graham sold 606 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $239.33, for a total value of $145,033.98. Following the transaction, the insider owned 7,714 shares of the company’s stock, valued at approximately $1,846,191.62. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Richard Winckler sold 1,034 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $232.70, for a total value of $240,611.80. Following the sale, the chief accounting officer owned 1,458 shares of the company’s stock, valued at $339,276.60. This trade represents a 41.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,264 shares of company stock worth $6,853,349 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Ferguson Trading Up 0.2%

Shares of Ferguson stock opened at $237.06 on Thursday. The firm has a fifty day moving average of $237.18. Ferguson plc has a 12-month low of $146.00 and a 12-month 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. The firm has a market cap of $46.46 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.44 billion.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, September 26th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Friday, September 26th. Ferguson’s dividend payout ratio (DPR) is presently 35.55%.

Ferguson Company Profile

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.