HighTower Advisors LLC Has $5.39 Million Holdings in Ferguson plc (NASDAQ:FERG)

HighTower Advisors LLC trimmed its holdings in shares of Ferguson plc (NASDAQ:FERG) by 9.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 27,128 shares of the company’s stock after selling 2,787 shares during the period. HighTower Advisors LLC’s holdings in Ferguson were worth $5,390,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ascent Group LLC increased its holdings in shares of Ferguson by 9.4% during the 3rd quarter. Ascent Group LLC now owns 8,008 shares of the company’s stock valued at $1,590,000 after acquiring an additional 687 shares during the last quarter. Paloma Partners Management Co bought a new position in Ferguson in the 3rd quarter worth approximately $3,214,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Ferguson during the third quarter worth approximately $483,000. Point72 Hong Kong Ltd bought a new stake in shares of Ferguson in the third quarter valued at approximately $27,947,000. Finally, Socorro Asset Management LP grew its stake in shares of Ferguson by 1.2% in the third quarter. Socorro Asset Management LP now owns 41,375 shares of the company’s stock worth $8,216,000 after acquiring an additional 500 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Performance

Ferguson stock opened at $194.94 on Wednesday. The firm has a market capitalization of $39.13 billion, a P/E ratio of 22.85, a P/E/G ratio of 2.11 and a beta of 1.21. The stock has a fifty day moving average price of $203.96 and a two-hundred day moving average price of $202.61. Ferguson plc has a 52-week low of $180.98 and a 52-week high of $225.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.12. The firm had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $2.77 EPS. As a group, analysts anticipate that Ferguson plc will post 9.77 EPS for the current fiscal year.

Ferguson Dividend Announcement

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

Insider Activity at Ferguson

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the completion of the sale, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. This trade represents a 70.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Victoria Morrissey sold 1,468 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.20, for a total transaction of $295,361.60. Following the transaction, the chief marketing officer now owns 5,205 shares in the company, valued at $1,047,246. The trade was a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock valued at $2,477,901 in the last three months. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Citigroup raised their price target on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. UBS Group lifted their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Wells Fargo & Company boosted their price objective on Ferguson from $225.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays raised their target price on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Finally, Robert W. Baird increased their price objective on shares of Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.38.

Ferguson Company Profile

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.