Commerzbank Aktiengesellschaft FI Reduces Stock Position in Ferguson plc $FERG

Commerzbank Aktiengesellschaft FI cut its position in Ferguson plc (NYSE:FERG) by 37.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,440 shares of the company’s stock after selling 3,214 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Ferguson were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Callan Family Office LLC purchased a new stake in Ferguson in the 2nd quarter worth approximately $844,000. Blair William & Co. IL lifted its stake in Ferguson by 1.4% in the 2nd quarter. Blair William & Co. IL now owns 41,178 shares of the company’s stock worth $8,966,000 after purchasing an additional 573 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Ferguson in the 2nd quarter worth approximately $14,807,000. Vontobel Holding Ltd. lifted its stake in Ferguson by 5.4% in the 2nd quarter. Vontobel Holding Ltd. now owns 2,533,124 shares of the company’s stock worth $551,588,000 after purchasing an additional 130,597 shares in the last quarter. Finally, Optas LLC purchased a new stake in Ferguson in the 2nd quarter worth approximately $242,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

FERG stock opened at $231.45 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $243.40. The firm’s fifty day simple moving average is $229.11. The company has a market cap of $45.40 billion, a price-to-earnings ratio of 24.78, a P/E/G ratio of 1.93 and a beta of 1.17.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, beating the consensus estimate of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.44 billion.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. Ferguson’s dividend payout ratio (DPR) is currently 35.55%.

Analysts Set New Price Targets

Several analysts have issued reports on FERG shares. Wells Fargo & Company increased their target price on shares of Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a research report on Wednesday, September 10th. Barclays raised their price objective on shares of Ferguson from $247.00 to $273.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Robert W. Baird raised their price objective on shares of Ferguson from $260.00 to $262.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Finally, The Goldman Sachs Group began coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a “buy” rating and a $280.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $235.71.

Ferguson Company Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.