HighTower Advisors LLC Sells 2,787 Shares of Ferguson plc (NASDAQ:FERG)

HighTower Advisors LLC trimmed its position in Ferguson plc (NASDAQ:FERG - Free Report) by 9.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,128 shares of the company's stock after selling 2,787 shares during the quarter. HighTower Advisors LLC's holdings in Ferguson were worth $5,390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised 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 valued at $1,218,032,000 after acquiring an additional 4,966,821 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Ferguson by 423.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company's stock valued at $290,475,000 after purchasing an additional 1,183,143 shares during the period. Southpoint Capital Advisors LP raised its position in Ferguson by 133.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company's stock valued at $138,999,000 after purchasing an additional 400,000 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Ferguson in the third quarter worth $63,420,000. Finally, Waverton Investment Management Ltd boosted its holdings in Ferguson by 61.0% in the second quarter. Waverton Investment Management Ltd now owns 812,904 shares of the company's stock valued at $157,293,000 after acquiring an additional 308,138 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Performance

Ferguson stock traded down $1.25 during midday trading on Wednesday, reaching $193.69. 3,081,229 shares of the company traded hands, compared to its average volume of 1,309,352. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. Ferguson plc has a 12 month low of $180.98 and a 12 month high of $225.63. The firm has a market capitalization of $38.88 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 2.11 and a beta of 1.21. The business has a 50 day moving average of $203.92 and a two-hundred day moving average of $202.55.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.86 by $0.12. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The company's revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the business posted $2.77 EPS. As a group, research analysts predict that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, December 20th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. This represents a $3.32 annualized dividend and a dividend yield of 1.71%. This is a positive change from Ferguson's previous quarterly dividend of $0.79. Ferguson's dividend payout ratio is presently 37.05%.

Insider Transactions at Ferguson

In other Ferguson news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction that occurred on 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 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 available through the SEC website. Also, CAO Richard Winckler sold 1,325 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares of the company's stock, valued at approximately $201,750. The trade was a 56.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,313 shares of company stock worth $2,477,901 in the last quarter. Company insiders own 0.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FERG. Royal Bank of Canada reiterated an "outperform" rating and set a $219.00 target price on shares of Ferguson in a report on Wednesday. UBS Group raised their price objective on Ferguson from $228.00 to $236.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Barclays boosted their target price on Ferguson from $229.00 to $245.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. Wells Fargo & Company lowered their price target on Ferguson from $232.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, Robert W. Baird dropped their price target on shares of Ferguson from $230.00 to $225.00 and set an "outperform" rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $232.22.

About Ferguson

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.