Trillium Asset Management LLC Lowers Stock Position in Ferguson plc $FERG

Trillium Asset Management LLC cut its holdings in shares of Ferguson plc (NYSE:FERG) by 22.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,368 shares of the company’s stock after selling 33,030 shares during the period. Trillium Asset Management LLC’s holdings in Ferguson were worth $26,691,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vise Technologies Inc. lifted its holdings in Ferguson by 56.4% during the second quarter. Vise Technologies Inc. now owns 7,305 shares of the company’s stock worth $1,734,000 after buying an additional 2,633 shares during the period. West Family Investments Inc. bought a new position in shares of Ferguson in the 2nd quarter worth $250,000. NewEdge Wealth LLC bought a new position in shares of Ferguson in the 2nd quarter worth $206,000. Danske Bank A S lifted its stake in shares of Ferguson by 0.6% during the 2nd quarter. Danske Bank A S now owns 105,654 shares of the company’s stock worth $25,075,000 after purchasing an additional 600 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Ferguson by 6.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 96,068 shares of the company’s stock worth $22,800,000 after purchasing an additional 5,936 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of FERG opened at $239.83 on Friday. The company’s fifty day moving average price is $236.94 and its 200-day moving average price is $240.49. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. The firm has a market capitalization of $46.40 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.16. The business had revenue of $8.75 billion for the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. On average, equities research analysts predict that Ferguson plc will post 11.39 EPS for the current year.

Ferguson declared that its board has initiated a share repurchase program on Tuesday, May 5th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be given a $0.89 dividend. The ex-dividend date is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio is currently 41.83%.

Wall Street Analyst Weigh In

FERG has been the topic of a number of recent research reports. Barclays raised their price objective on Ferguson from $297.00 to $313.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group lowered shares of Ferguson from a “buy” rating to a “neutral” rating and decreased their price target for the company from $315.00 to $265.00 in a research report on Monday, July 6th. UBS Group raised their price target on shares of Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Wells Fargo & Company lifted their price objective on shares of Ferguson from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Finally, Robert W. Baird boosted their price objective on shares of Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $285.93.

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.