Ferguson plc $FERG Stock Position Reduced by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lessened its holdings in Ferguson plc (NYSE:FERG) by 25.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 72,000 shares of the company’s stock after selling 25,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Ferguson were worth $16,029,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Jupiter Topco LLC acquired a new position in shares of Ferguson during the second quarter valued at about $1,789,368,000. Man Group plc raised its position in shares of Ferguson by 613.8% in the 2nd quarter. Man Group plc now owns 401,395 shares of the company’s stock valued at $95,263,000 after purchasing an additional 345,165 shares during the last quarter. Bank of America Corp DE raised its position in shares of Ferguson by 43.6% in the 1st quarter. Bank of America Corp DE now owns 1,029,896 shares of the company’s stock valued at $240,234,000 after purchasing an additional 312,756 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in Ferguson by 31.5% in the 2nd quarter. Royal London Asset Management Ltd. now owns 919,100 shares of the company’s stock worth $218,130,000 after purchasing an additional 220,168 shares in the last quarter. Finally, Amundi boosted its stake in Ferguson by 17.3% in the 1st quarter. Amundi now owns 1,321,070 shares of the company’s stock worth $308,198,000 after purchasing an additional 195,047 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of NYSE:FERG opened at $238.04 on Friday. The company has a market cap of $46.05 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. Ferguson plc has a twelve month low of $212.13 and a twelve month high of $271.64. The company’s 50 day moving average is $225.00 and its 200 day moving average is $237.31. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72.

Ferguson (NYSE:FERG) last posted its earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The company had revenue of $8.75 billion during the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. On average, sell-side analysts forecast that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 21st. Ferguson’s payout ratio is 41.83%.

Analyst Ratings Changes

Several analysts have weighed in on FERG shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Ferguson in a research report on Tuesday, September 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Ferguson from $261.00 to $235.00 in a report on Thursday, October 8th. Rothschild & Co Redburn raised their price target on shares of Ferguson from $295.00 to $307.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Royal Bank Of Canada lowered their price objective on shares of Ferguson from $290.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, October 7th. Finally, Citigroup raised shares of Ferguson from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $285.00 to $288.00 in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $287.44.

Ferguson News Summary

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Citigroup upgraded Ferguson’s stock rating, adding a bullish analyst catalyst for Ferguson plc. The upgrade could support the shares by signaling improved expectations for earnings, valuation, or industry conditions. Ferguson Stock Rating Upgraded by Citigroup
• Neutral Sentiment: The other headlines concern people or organizations named Ferguson—including Sarah Ferguson, Washington Governor Ferguson, a municipal oversight case, and football player Jake Ferguson. They do not relate to Ferguson plc or appear likely to affect FERG’s stock.

Insider Buying and Selling at Ferguson

In other Ferguson news, COO William T. Thees, Jr. sold 353 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $224.50, for a total transaction of $79,248.50. Following the transaction, the chief operating officer owned 31,745 shares in the company, valued at approximately $7,126,752.50. This represents a 1.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Murphy sold 1,776 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $224.50, for a total value of $398,712.00. Following the transaction, the insider owned 168,440 shares in the company, valued at $37,814,780. This represents a 1.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 38,808 shares of company stock worth $8,571,587. 0.15% of the stock is currently owned by company insiders.

About Ferguson

Ferguson plc (NYSE: FERG) is a value-added distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, fire protection and other building and industrial products. The company serves professional contractors, municipalities, commercial and industrial businesses, and other customers through a network of branches, distribution centers, showrooms and digital platforms.

Its product offering includes pipes, valves, fittings, plumbing fixtures, water and wastewater infrastructure products, HVAC equipment, fire protection systems, industrial supplies and related tools and services.