Forsta AP Fonden Sells 26,100 Shares of Ferguson plc $FERG

Forsta AP Fonden trimmed its position in Ferguson plc (NYSE:FERG) by 38.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,900 shares of the company’s stock after selling 26,100 shares during the quarter. Forsta AP Fonden’s holdings in Ferguson were worth $9,124,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its holdings in 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 acquiring an additional 77 shares during the period. Hemington Wealth Management grew its position in shares of Ferguson by 51.5% during the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Brooklyn Investment Group raised its stake in Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock valued at $36,000 after purchasing an additional 115 shares during the period. Fifth Third Bancorp lifted its holdings in Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after purchasing an additional 120 shares in the last quarter. Finally, Maseco LLP bought a new position in Ferguson in the 2nd quarter worth approximately $40,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Down 4.1%

Shares of FERG stock opened at $242.87 on Friday. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $256.93. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average price of $236.73. The stock has a market cap of $47.60 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18.

Ferguson (NYSE:FERG) last announced its earnings results 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. The business had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, September 26th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s payout ratio is 35.55%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Robert W. Baird raised their target price on shares of Ferguson from $260.00 to $262.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Oppenheimer lifted their target price on Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. UBS Group increased their price target on Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, September 17th. Wells Fargo & Company lifted their price objective on Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. Finally, Sanford C. Bernstein assumed coverage on Ferguson in a research report on Wednesday. They set an “outperform” rating and a $288.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus target price of $243.75.

Insider Activity at Ferguson

In other Ferguson news, CAO Richard Winckler sold 1,034 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $232.70, for a total transaction of $240,611.80. Following the completion of the transaction, the chief accounting officer directly owned 1,458 shares of the company’s stock, valued at approximately $339,276.60. This trade represents a 41.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Allison Stirrup sold 969 shares of the company’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $234.23, for a total transaction of $226,968.87. Following the completion of the sale, the insider directly owned 5,058 shares in the company, valued at approximately $1,184,735.34. The trade was a 16.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,264 shares of company stock worth $6,853,349 in the last quarter. 0.18% of the stock is owned by insiders.

About Ferguson

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.