PNC Financial Services Group Inc. Sells 3,730 Shares of Ferguson plc $FERG

PNC Financial Services Group Inc. lowered its stake in Ferguson plc (NYSE:FERG) by 42.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,124 shares of the company’s stock after selling 3,730 shares during the period. PNC Financial Services Group Inc.’s holdings in Ferguson were worth $1,151,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC increased its stake in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after buying an additional 77 shares during the period. Cornerstone Planning Group LLC grew its holdings 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 acquiring an additional 82 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Ferguson in the third quarter valued at about $43,000. AdvisorShares Investments LLC purchased a new position in shares of Ferguson in the second quarter valued at about $58,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Ferguson by 1,588.9% during the second quarter. Cullen Frost Bankers Inc. now owns 304 shares of the company’s stock valued at $66,000 after acquiring an additional 286 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

FERG opened at $251.31 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The company has a market cap of $49.14 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 2.08 and a beta of 1.18. The stock has a fifty day simple moving average of $244.27 and a two-hundred day simple moving average of $239.18. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $271.64.

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

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, March 6th. Ferguson’s dividend payout ratio (DPR) is presently 35.96%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FERG. Wall Street Zen downgraded Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Robert W. Baird raised their price target on Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research report on Tuesday, January 6th. UBS Group decreased their price objective on shares of Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, December 10th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferguson in a research note on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

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.