Ferguson plc (NASDAQ:FERG) is Wesleyan Assurance Society’s 2nd Largest Position

Wesleyan Assurance Society lowered its stake in Ferguson plc (NASDAQ:FERG) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 517,104 shares of the company’s stock after selling 2,000 shares during the period. Ferguson accounts for about 8.6% of Wesleyan Assurance Society’s holdings, making the stock its 2nd largest holding. Wesleyan Assurance Society owned 0.26% of Ferguson worth $99,554,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Ferguson during the 4th quarter valued at about $988,852,000. Franklin Resources Inc. increased its position in shares of Ferguson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,714,113 shares of the company’s stock valued at $524,014,000 after acquiring an additional 118,894 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Ferguson by 44.9% during the fourth quarter. Brown Advisory Inc. now owns 2,371,704 shares of the company’s stock valued at $457,905,000 after acquiring an additional 735,270 shares in the last quarter. Cantillon Capital Management LLC raised its holdings in Ferguson by 58.4% in the 4th quarter. Cantillon Capital Management LLC now owns 1,872,863 shares of the company’s stock worth $361,594,000 after acquiring an additional 690,643 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Ferguson by 589.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock valued at $353,778,000 after acquiring an additional 1,384,570 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Ferguson stock traded up $5.24 during mid-day trading on Friday, reaching $214.33. 756,926 shares of the stock traded hands, compared to its average volume of 955,446. Ferguson plc has a 12-month low of $147.62 and a 12-month high of $225.63. The business’s 50-day moving average is $202.66 and its 200-day moving average is $207.28. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The stock has a market capitalization of $43.28 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 6.28 and a beta of 1.22.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, June 4th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.27 by $0.05. The firm had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.32 billion. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, sell-side analysts predict that Ferguson plc will post 9.66 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 14th were given a $0.79 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.16 annualized dividend and a yield of 1.47%. Ferguson’s payout ratio is presently 34.54%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays decreased their price target on Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada decreased their target price on Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. Finally, Jefferies Financial Group upped their target price on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $230.00.

About Ferguson

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.