Ferguson plc (NASDAQ:FERG) is Trian Fund Management L.P.’s 6th Largest Position

Trian Fund Management L.P. trimmed its holdings in shares of Ferguson plc (NASDAQ:FERG) by 35.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,270,810 shares of the company’s stock after selling 683,053 shares during the quarter. Ferguson accounts for about 6.5% of Trian Fund Management L.P.’s portfolio, making the stock its 6th largest position. Trian Fund Management L.P. owned approximately 0.63% of Ferguson worth $252,345,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of Ferguson by 375.4% during the second quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock worth $1,218,032,000 after buying an additional 4,966,821 shares during the period. BNP Paribas Financial Markets acquired a new stake in Ferguson during the 3rd quarter worth about $63,420,000. Waverton Investment Management Ltd grew its stake in Ferguson by 61.0% during the 2nd quarter. Waverton Investment Management Ltd now owns 812,904 shares of the company’s stock valued at $157,293,000 after purchasing an additional 308,138 shares during the last quarter. FMR LLC increased its holdings in shares of Ferguson by 3.5% in the third quarter. FMR LLC now owns 8,468,003 shares of the company’s stock valued at $1,668,462,000 after purchasing an additional 288,935 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of Ferguson by 79.6% in the third quarter. Eagle Asset Management Inc. now owns 646,954 shares of the company’s stock worth $134,217,000 after purchasing an additional 286,691 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Ferguson

In other Ferguson news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the transaction, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael Jacobs sold 2,624 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the sale, the vice president now owns 1,116 shares of the company’s stock, valued at $224,271.36. This represents a 70.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock worth $2,477,901 in the last ninety days. Insiders own 0.16% of the company’s stock.

Ferguson Price Performance

NASDAQ FERG traded up $2.59 during mid-day trading on Wednesday, hitting $215.10. The stock had a trading volume of 152,145 shares, compared to its average volume of 1,267,414. The firm’s 50 day moving average is $201.21 and its 200 day moving average is $202.58. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The stock has a market capitalization of $43.18 billion, a price-to-earnings ratio of 24.91, a PEG ratio of 2.10 and a beta of 1.20. Ferguson plc has a twelve month low of $166.21 and a twelve month high of $225.63.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.77 earnings per share. Equities research analysts forecast that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend was Friday, September 27th. Ferguson’s dividend payout ratio (DPR) is 37.05%.

Analyst Ratings Changes

Several brokerages recently weighed in on FERG. Barclays increased their price target on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Wells Fargo & Company raised their target price on shares of Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Citigroup upped their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. UBS Group lifted their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada raised their target price on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $233.38.

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.