Handelsinvest Investeringsforvaltning Trims Stake in Ferguson plc (NASDAQ:FERG)

Handelsinvest Investeringsforvaltning reduced its position in Ferguson plc (NASDAQ:FERG) by 34.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,370 shares of the company’s stock after selling 2,269 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Ferguson were worth $955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FERG. Kestra Advisory Services LLC lifted its holdings in shares of Ferguson by 19.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 1,794 shares of the company’s stock valued at $295,000 after purchasing an additional 291 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of Ferguson by 14.7% in the 3rd quarter. LPL Financial LLC now owns 28,156 shares of the company’s stock valued at $4,631,000 after purchasing an additional 3,616 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Ferguson by 566.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,799 shares of the company’s stock valued at $296,000 after purchasing an additional 1,529 shares during the last quarter. Toronto Dominion Bank purchased a new stake in shares of Ferguson in the 3rd quarter valued at about $6,416,000. Finally, AQR Capital Management LLC raised its stake in Ferguson by 16.8% during the 3rd quarter. AQR Capital Management LLC now owns 123,223 shares of the company’s stock valued at $20,267,000 after acquiring an additional 17,730 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on FERG shares. Barclays reduced their price objective on Ferguson from $236.00 to $232.00 and set an “overweight” rating for the company in a research note on Wednesday, June 5th. Royal Bank of Canada reduced their price objective on Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.50.

Ferguson Stock Performance

NASDAQ FERG opened at $189.81 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. The business’s 50 day moving average is $206.53 and its two-hundred day moving average is $203.29. Ferguson plc has a 12-month low of $147.62 and a 12-month high of $224.86. The stock has a market capitalization of $38.33 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 8.08 and a beta of 1.22.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, June 4th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.05. The company had revenue of $7.31 billion for the quarter, compared to analysts’ expectations of $7.32 billion. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 EPS. Research analysts expect that Ferguson plc will post 9.66 EPS for the current year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 14th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, June 14th. Ferguson’s dividend payout ratio is currently 34.54%.

Ferguson 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.