Bank of Nova Scotia Sells 67,486 Shares of Ferguson plc (NASDAQ:FERG)

Bank of Nova Scotia reduced its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 68.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,501 shares of the company's stock after selling 67,486 shares during the quarter. Bank of Nova Scotia's holdings in Ferguson were worth $5,294,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Manchester Capital Management LLC boosted its stake in shares of Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Ferguson during the fourth quarter worth $35,000. Private Trust Co. NA increased its holdings in shares of Ferguson by 92.5% during the fourth quarter. Private Trust Co. NA now owns 258 shares of the company's stock worth $45,000 after buying an additional 124 shares in the last quarter. R Squared Ltd bought a new position in shares of Ferguson in the 4th quarter valued at $45,000. Finally, Assetmark Inc. boosted its holdings in shares of Ferguson by 41.1% during the 4th quarter. Assetmark Inc. now owns 333 shares of the company's stock valued at $58,000 after acquiring an additional 97 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Trading Down 0.5 %

Shares of FERG stock traded down $0.88 during trading hours on Tuesday, hitting $165.65. 1,551,151 shares of the company were exchanged, compared to its average volume of 1,560,825. The company has a 50 day simple moving average of $167.97 and a two-hundred day simple moving average of $184.05. The firm has a market cap of $33.12 billion, a P/E ratio of 19.89, a P/E/G ratio of 1.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $225.63.

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Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.06). The company had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company's revenue for the quarter was up 3.0% on a year-over-year basis. During the same period last year, the firm posted $1.74 earnings per share. Equities analysts anticipate that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, March 21st. Ferguson's dividend payout ratio is currently 40.84%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FERG shares. Robert W. Baird set a $190.00 price target on Ferguson and gave the company an "outperform" rating in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferguson in a report on Tuesday, April 1st. They set a "hold" rating and a $174.00 target price on the stock. Bank of America raised shares of Ferguson from an "underperform" rating to a "buy" rating and raised their price target for the company from $185.00 to $225.00 in a research note on Wednesday, January 8th. Oppenheimer reduced their price objective on shares of Ferguson from $234.00 to $189.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Finally, Zelman & Associates lowered Ferguson from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $199.38.

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.