Aviva PLC Trims Holdings in Ferguson plc $FERG

Aviva PLC reduced its position in shares of Ferguson plc (NYSE:FERG) by 36.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,789 shares of the company’s stock after selling 106,165 shares during the period. Aviva PLC’s holdings in Ferguson were worth $41,109,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. True Wealth Design LLC lifted its stake in shares of Ferguson by 145.3% during the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 77 shares during the period. AE Wealth Management LLC purchased a new position in shares of Ferguson during the 2nd quarter worth $300,000. Fox Run Management L.L.C. purchased a new position in shares of Ferguson during the 2nd quarter worth $2,163,000. Penserra Capital Management LLC boosted its holdings in shares of Ferguson by 11.3% during the second quarter. Penserra Capital Management LLC now owns 1,035 shares of the company’s stock worth $224,000 after purchasing an additional 105 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of Ferguson by 59.8% in the second quarter. Sterling Capital Management LLC now owns 662,382 shares of the company’s stock valued at $144,234,000 after purchasing an additional 247,818 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FERG. Robert W. Baird increased their target price on Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Zacks Research upgraded shares of Ferguson to a “hold” rating in a report on Friday, August 8th. JPMorgan Chase & Co. raised their target price on shares of Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Barclays boosted their target price on shares of Ferguson from $247.00 to $273.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Finally, Truist Financial lifted their price target on shares of Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $240.80.

Insider Buying and Selling

In other news, insider Ian T. Graham sold 4,864 shares of the stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $233.22, for a total value of $1,134,382.08. Following the completion of the sale, the insider owned 7,769 shares in the company, valued at approximately $1,811,886.18. This trade represents a 38.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jake Schlicher sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $233.52, for a total value of $700,560.00. Following the sale, the senior vice president owned 11,651 shares in the company, valued at approximately $2,720,741.52. The trade was a 20.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,264 shares of company stock valued at $6,853,349 over the last ninety days. Insiders own 0.18% of the company’s stock.

Ferguson Stock Performance

Shares of NYSE:FERG opened at $249.91 on Monday. The business’s 50-day moving average price is $235.26. The stock has a market cap of $48.98 billion, a PE ratio of 26.76, a P/E/G ratio of 2.05 and a beta of 1.18. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $252.52. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

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

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, September 26th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, September 26th. Ferguson’s dividend payout ratio is currently 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.