Illinois Municipal Retirement Fund Lowers Position in Ferguson plc $FERG

Illinois Municipal Retirement Fund trimmed its holdings in shares of Ferguson plc (NYSE:FERG) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,645 shares of the company’s stock after selling 6,274 shares during the period. Illinois Municipal Retirement Fund’s holdings in Ferguson were worth $12,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. True Wealth Design LLC lifted its position in shares of Ferguson by 145.3% in the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 77 shares during the period. Cornerstone Planning Group LLC increased its holdings in Ferguson by 178.3% during the third quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after buying an additional 82 shares during the period. Quent Capital LLC bought a new position in Ferguson in the third quarter worth approximately $43,000. Harbour Investments Inc. lifted its holdings in Ferguson by 61.3% during the second quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock worth $53,000 after buying an additional 92 shares during the period. Finally, AdvisorShares Investments LLC bought a new stake in Ferguson during the 2nd quarter valued at $58,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Vertical Research started coverage on Ferguson in a research note on Monday, October 20th. They issued a “buy” rating and a $291.99 target price on the stock. Robert W. Baird increased their price target on shares of Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Sanford C. Bernstein restated an “outperform” rating on shares of Ferguson in a report on Thursday, January 8th. Finally, Wall Street Zen lowered shares of Ferguson from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

Ferguson Price Performance

Shares of NYSE FERG opened at $263.52 on Friday. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $271.64. The company has a market cap of $51.53 billion, a PE ratio of 26.62, a P/E/G ratio of 2.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The business has a 50-day simple moving average of $240.72 and a two-hundred day simple moving average of $237.36.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.77 by $0.07. The firm had revenue of $8.17 billion during the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.45 earnings per share.

Ferguson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, January 2nd will be paid a dividend of $0.89 per share. The ex-dividend date is Friday, January 2nd. This is an increase from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. Ferguson’s payout ratio is presently 35.96%.

Ferguson Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.