Duff & Phelps Investment Management Co. Decreases Holdings in Ferguson plc $FERG

Duff & Phelps Investment Management Co. decreased its holdings in Ferguson plc (NYSE:FERG) by 26.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,508 shares of the company’s stock after selling 6,958 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Ferguson were worth $4,381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Ferguson by 23.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after purchasing an additional 2,940 shares during the period. Caxton Associates LLP purchased a new stake in Ferguson during the 1st quarter valued at $310,000. Focus Partners Wealth raised its holdings in Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after buying an additional 581 shares during the period. Sivia Capital Partners LLC bought a new stake in Ferguson in the second quarter worth $257,000. Finally, Penserra Capital Management LLC lifted its position in Ferguson by 11.3% in the second quarter. Penserra Capital Management LLC now owns 1,035 shares of the company’s stock worth $224,000 after buying an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Trading Up 1.6%

Shares of FERG opened at $231.45 on Thursday. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $271.64. The company has a 50-day moving average of $248.96 and a 200 day moving average of $240.60. The firm has a market capitalization of $45.02 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 1.83 and a beta of 1.17. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 earnings per share.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 6th will be paid a $0.89 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.56 annualized dividend and a yield of 1.5%. Ferguson’s dividend payout ratio is 35.96%.

Key Stories Impacting Ferguson

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Analysts/technicals: Zacks notes FERG fell ~13.6% over four weeks and is technically in oversold territory, arguing a trend reversal may be possible as Wall Street consensus has been revising earnings estimates upward. This supports a potential near-term bounce. FERG Loses 13.6% in 4 Weeks
• Positive Sentiment: Short interest fell sharply in February (down ~34.2% to ~1.79M shares, ~0.9% of float; short-interest ratio ~1.1 days). Lower short interest reduces the risk of continued squeezes and may remove a source of selling pressure. (Source: recent short-interest data)
• Neutral Sentiment: Rebecca Ferguson/Silo season 3 media coverage — several entertainment outlets report Rebecca Ferguson confirmed a release window for Apple TV’s “Silo” Season 3. This is celebrity/brand news and unlikely to affect the industrial distribution business of Ferguson plc. Rebecca Ferguson Confirms Silo Season 3 Release Date Window
• Neutral Sentiment: Other celebrity/press items (stories about Sarah Ferguson, Priscilla Presley, pop-culture interviews) are unrelated to Ferguson plc’s operations and unlikely to move the stock. Example coverage: social/celebrity articles in MSN/AOL/Yahoo.
• Neutral Sentiment: Sports profile: The NYT ran a piece on soccer player Evan Ferguson and Brighton (unrelated to Ferguson plc). Evan Ferguson and Kaoru Mitoma
• Negative Sentiment: Fundamentals/earnings: Ferguson missed Q4 consensus (reported $1.99 EPS vs. $2.24 expected), which likely spurred part of the recent selloff. Revenues rose modestly (+3.6% YoY) but the EPS miss and any cautious forward commentary remain a headwind for the shares.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a research report on Tuesday, January 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Wells Fargo & Company lifted their price target on shares of Ferguson from $280.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Oppenheimer upped their price target on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $268.93.

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.