Thrivent Financial for Lutherans Reduces Stock Position in Ferguson plc $FERG

Thrivent Financial for Lutherans cut its stake in Ferguson plc (NYSE:FERG) by 63.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,695 shares of the company’s stock after selling 84,911 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Ferguson were worth $10,936,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FERG. Rakuten Investment Management Inc. bought a new position in Ferguson in the 3rd quarter valued at $1,002,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Ferguson by 11.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 20,523 shares of the company’s stock worth $4,609,000 after purchasing an additional 2,145 shares during the period. iA Global Asset Management Inc. purchased a new stake in shares of Ferguson in the third quarter worth $1,252,000. Markel Group Inc. boosted its stake in Ferguson by 9.3% during the third quarter. Markel Group Inc. now owns 147,000 shares of the company’s stock valued at $33,013,000 after buying an additional 12,500 shares during the period. Finally, Fisher Funds Management LTD boosted its stake in Ferguson by 7.0% during the third quarter. Fisher Funds Management LTD now owns 160,428 shares of the company’s stock valued at $36,029,000 after buying an additional 10,426 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FERG. Robert W. Baird upped their target price on Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Wall Street Zen cut shares of Ferguson from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Wells Fargo & Company raised their target price on shares of Ferguson from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferguson in a research note on Friday, January 9th. Finally, Barclays increased their price target on shares of Ferguson from $267.00 to $278.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $253.00.

Ferguson News Roundup

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Zacks highlights that Ferguson plc (FERG) has outpaced some industrial-products peers so far this year, reinforcing momentum from the company’s recent quarterly beat and revenue growth — a likely contributor to buying interest. Is Ferguson plc (FERG) Outperforming Other Industrial Products Stocks This Year?
• Neutral Sentiment: Local news: the city of Ferguson (Missouri) reports a downward crime trend — unrelated to Ferguson plc’s plumbing & HVAC distribution business and unlikely to affect the stock. Ferguson facing downward trend in crime: Mayor
• Neutral Sentiment: Multiple media reports cover revelations about Sarah Ferguson and related charity/epstein coverage; these are reputational/celebrity stories and do not pertain to Ferguson plc’s operations. Representative coverage: Key revelations about Sarah Ferguson in Epstein files, including suggesting a woman for him to marry
• Neutral Sentiment: Additional celebrity/royal and lifestyle pieces (mental-health, family reaction, email excerpts) concerning Sarah Ferguson appear widely; they are unrelated to the company’s fundamentals. Example: Princess Eugenie feels ‘very frustrated’ by parents Sarah Ferguson and ex-Prince Andrew’s antics
• Neutral Sentiment: Sports mentions of athletes named Ferguson (e.g., Terrance Ferguson) are unrelated to the company and should not affect FERG’s stock. Hurts heaves second TD toss to Ferguson
• Negative Sentiment: An AmericanBankingNews item presents a critical review of Ferguson (FERG) alongside other names, highlighting risks investors should consider (valuation, cyclical exposure and/or operational headwinds cited). This piece may introduce caution among some investors. ZJK Industrial (NASDAQ:ZJK) and Ferguson (NYSE:FERG) Critical Review

Ferguson Price Performance

Shares of Ferguson stock opened at $260.97 on Thursday. The business has a 50 day moving average of $239.47 and a 200 day moving average of $235.85. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $262.88. The company has a market cap of $51.03 billion, a PE ratio of 26.36, a P/E/G ratio of 2.14 and a beta of 1.18. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68.

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

Ferguson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, January 2nd. This is an increase from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio (DPR) is currently 35.96%.

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.