Manning & Napier Advisors LLC Sells 19,660 Shares of Ferguson plc $FERG

Manning & Napier Advisors LLC decreased its holdings in Ferguson plc (NYSE:FERG) by 42.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,125 shares of the company’s stock after selling 19,660 shares during the period. Manning & Napier Advisors LLC’s holdings in Ferguson were worth $5,878,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC increased its holdings in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after buying an additional 77 shares during the period. Hemington Wealth Management increased its holdings 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 purchasing an additional 52 shares during the period. Fifth Third Bancorp increased its stake in shares of Ferguson by 230.8% during the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $37,000 after buying an additional 120 shares during the period. Maseco LLP bought a new position in Ferguson in the 2nd quarter worth $40,000. Finally, Quent Capital LLC purchased a new stake in Ferguson in the third quarter worth about $43,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

NYSE:FERG opened at $246.22 on Thursday. The firm has a market capitalization of $48.15 billion, a price-to-earnings ratio of 24.87, a PEG ratio of 2.00 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The business has a 50 day simple moving average of $236.96 and a 200-day simple moving average of $232.57. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $256.93.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.07. The company had revenue of $8.17 billion for the quarter. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.45 EPS.

Ferguson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be given a dividend of $0.89 per share. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. Ferguson’s payout ratio is 35.96%.

Wall Street Analysts Forecast Growth

FERG has been the topic of several research reports. Robert W. Baird boosted their price objective on shares of Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. lifted their price objective on Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Oppenheimer boosted their target price on shares of Ferguson from $235.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. UBS Group dropped their price objective on shares of Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $252.31.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.