Riverwater Partners LLC Cuts Stock Holdings in Ferguson plc (NASDAQ:FERG)

Riverwater Partners LLC lowered its holdings in Ferguson plc (NASDAQ:FERG) by 2.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,862 shares of the company’s stock after selling 110 shares during the quarter. Riverwater Partners LLC’s holdings in Ferguson were worth $757,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Asset Dedication LLC bought a new position in Ferguson in the third quarter worth approximately $27,000. EdgeRock Capital LLC purchased a new position in shares of Ferguson in the 2nd quarter valued at $32,000. MCF Advisors LLC bought a new position in shares of Ferguson in the 1st quarter worth $47,000. Versant Capital Management Inc lifted its stake in shares of Ferguson by 2,462.5% during the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after purchasing an additional 394 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Ferguson during the second quarter valued at about $105,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG opened at $195.50 on Thursday. The stock has a 50-day moving average of $200.71 and a two-hundred day moving average of $204.67. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The stock has a market cap of $39.24 billion, a P/E ratio of 22.92, a P/E/G ratio of 3.28 and a beta of 1.20. Ferguson plc has a one year low of $147.62 and a one year high of $225.63.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The firm had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. During the same quarter in the prior year, the firm earned $2.77 earnings per share. Ferguson’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts predict that Ferguson plc will post 9.86 EPS for the current year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.79 per share. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.62%. Ferguson’s dividend payout ratio (DPR) is presently 37.05%.

Insider Activity at Ferguson

In other Ferguson news, CAO Richard Winckler sold 1,325 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the sale, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at approximately $201,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the sale, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at $201,750. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the completion of the transaction, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock worth $2,477,901 over the last three months. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on FERG shares. Citigroup increased their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Wells Fargo & Company decreased their target price on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Jefferies Financial Group lifted their price target on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. UBS Group increased their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Oppenheimer initiated coverage on Ferguson in a research note on Wednesday. They set an “outperform” rating and a $234.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $232.50.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.