Thrivent Financial for Lutherans Sells 16,033 Shares of Ferguson plc $FERG

Thrivent Financial for Lutherans reduced its holdings in Ferguson plc (NYSE:FERG) by 10.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 133,606 shares of the company’s stock after selling 16,033 shares during the period. Thrivent Financial for Lutherans’ holdings in Ferguson were worth $29,093,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FERG. Neuberger Berman Group LLC grew its stake in shares of Ferguson by 39.8% in the second quarter. Neuberger Berman Group LLC now owns 15,122 shares of the company’s stock worth $3,294,000 after purchasing an additional 4,307 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in Ferguson during the 2nd quarter worth $220,000. State of Wyoming acquired a new position in Ferguson during the 2nd quarter worth about $387,000. Hudson Bay Capital Management LP bought a new stake in shares of Ferguson in the 2nd quarter valued at about $369,000. Finally, Auxier Asset Management acquired a new stake in shares of Ferguson in the second quarter valued at about $229,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Insiders Place Their Bets

In related news, insider Ian T. Graham sold 606 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $239.33, for a total value of $145,033.98. Following the completion of the sale, the insider directly owned 7,714 shares of the company’s stock, valued at $1,846,191.62. The trade was a 7.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Allison Stirrup sold 969 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $234.23, for a total value of $226,968.87. Following the transaction, the insider directly owned 5,058 shares in the company, valued at approximately $1,184,735.34. This trade represents a 16.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 29,264 shares of company stock worth $6,853,349 over the last three months. Insiders own 0.18% of the company’s stock.

Ferguson Stock Up 0.4%

Shares of FERG stock opened at $225.47 on Tuesday. The stock’s 50 day moving average is $242.53. The firm has a market cap of $44.09 billion, a P/E ratio of 22.77, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $256.93.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.07. The business had revenue of $8.17 billion for the quarter. Ferguson had a net margin of 6.28% and a return on equity of 36.42%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.45 earnings per share.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be paid a $0.89 dividend. The ex-dividend date is Friday, January 2nd. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. This is a boost from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio (DPR) is 33.54%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FERG shares. Robert W. Baird lifted their price objective on Ferguson from $262.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Sanford C. Bernstein reiterated an “outperform” rating and set a $288.00 price objective on shares of Ferguson in a research report on Wednesday, December 10th. Finally, Vertical Research started coverage on shares of Ferguson in a report on Monday, October 20th. They issued a “buy” rating and a $291.99 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus price target of $250.47.

About Ferguson

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.