Atreides Management LP Trims Position in Ferguson plc $FERG

Atreides Management LP decreased its holdings in shares of Ferguson plc (NYSE:FERG) by 25.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 222,624 shares of the company’s stock after selling 75,332 shares during the quarter. Ferguson comprises about 1.0% of Atreides Management LP’s investment portfolio, making the stock its 27th biggest position. Atreides Management LP owned about 0.11% of Ferguson worth $49,997,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FERG. Cornerstone Planning Group LLC boosted its stake in Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after buying an additional 82 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Ferguson in the 3rd quarter valued at about $34,000. Quent Capital LLC acquired a new position in shares of Ferguson during the 3rd quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of Ferguson by 21.7% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company’s stock valued at $66,000 after acquiring an additional 52 shares during the last quarter. Finally, CX Institutional lifted its holdings in shares of Ferguson by 9,900.0% during the 3rd quarter. CX Institutional now owns 300 shares of the company’s stock worth $67,000 after acquiring an additional 297 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Key Stories Impacting Ferguson

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Rebecca Ferguson (actor) confirms return window for Apple TV+ series “Silo” — entertainment press about the actress, not the company. Collider: Rebecca Ferguson on Silo
• Neutral Sentiment: Multiple outlets report Rebecca Ferguson discussing “Silo” Season 3 and Dune: Part 3 details — actor/entertainment coverage, unrelated to Ferguson plc. AOL: Silo Season 3
• Neutral Sentiment: Rebecca Ferguson appears on late-night TV (Seth Meyers) — celebrity appearance, no corporate link. MSN: Seth Meyers & Rebecca Ferguson
• Neutral Sentiment: Celebrity coverage of Sarah Ferguson (Duchess of York) — various human-interest and controversy stories (public apologies, social ties, living arrangements). These are reputational/celebrity items with no corporate relevance. Yahoo: Sarah Ferguson and Epstein
• Neutral Sentiment: Stories comparing Meghan Markle to Sarah Ferguson and articles about Priscilla Presley and Sarah Ferguson — entertainment/viral coverage, not company news. MSN: Meghan Markle comparison
• Neutral Sentiment: Reports on Sarah Ferguson’s personal comments about other celebrities and alleged tensions with the royal family — tabloid/celebrity reporting, no corporate implications. MSN: Sarah Ferguson on Lisa Marie Presley
• Neutral Sentiment: Sports feature on Brighton’s Evan Ferguson (soccer) — player/club coverage, not related to Ferguson plc’s business. NYT: Evan Ferguson feature

Ferguson Stock Performance

NYSE:FERG opened at $222.07 on Friday. The firm’s fifty day simple moving average is $248.85 and its 200 day simple moving average is $240.43. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $271.64. The firm has a market capitalization of $43.19 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.79 and a beta of 1.17.

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

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, March 6th. Ferguson’s dividend payout ratio is currently 35.96%.

Analyst Ratings Changes

FERG has been the topic of several research analyst reports. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. Truist Financial increased their price target on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Robert W. Baird boosted their price objective on shares of Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Finally, UBS Group upped their price objective on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Ferguson has a consensus rating of “Moderate Buy” and a consensus price target 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.