Parnassus Investments LLC Trims Stake in Ferguson plc (NASDAQ:FERG)

Parnassus Investments LLC lowered its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 338,678 shares of the company's stock after selling 8,611 shares during the quarter. Parnassus Investments LLC owned about 0.17% of Ferguson worth $67,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Frank Rimerman Advisors LLC grew its holdings in shares of Ferguson by 1.8% during the third quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company's stock valued at $657,000 after buying an additional 57 shares during the last quarter. Transatlantique Private Wealth LLC boosted its stake in Ferguson by 3.0% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company's stock valued at $394,000 after purchasing an additional 60 shares during the last quarter. Mayflower Financial Advisors LLC increased its holdings in Ferguson by 3.2% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company's stock worth $388,000 after purchasing an additional 61 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Ferguson by 3.8% in the second quarter. GAMMA Investing LLC now owns 2,130 shares of the company's stock valued at $412,000 after purchasing an additional 78 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Ferguson by 33.8% during the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company's stock valued at $72,000 after buying an additional 92 shares during the last quarter. Institutional investors own 81.98% of the company's stock.

Insider Buying and Selling

In other news, CMO Victoria Morrissey sold 1,468 shares of the company's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.20, for a total transaction of $295,361.60. Following the sale, the chief marketing officer now directly owns 5,205 shares in the company, valued at $1,047,246. This represents a 22.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael Jacobs sold 2,624 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now owns 1,116 shares of the company's stock, valued at $224,271.36. This trade represents a 70.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,313 shares of company stock valued at $2,477,901. Company insiders own 0.16% of the company's stock.

Ferguson Stock Performance

Shares of NASDAQ:FERG traded up $1.11 during mid-day trading on Tuesday, reaching $201.93. The company had a trading volume of 1,322,072 shares, compared to its average volume of 1,268,390. Ferguson plc has a one year low of $164.22 and a one year high of $225.63. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The company's 50-day moving average price is $199.66 and its 200-day moving average price is $202.99. The firm has a market cap of $40.54 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 1.94 and a beta of 1.20.

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

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, September 27th. Ferguson's payout ratio is currently 37.05%.

Analyst Ratings Changes

A number of research firms recently commented on FERG. UBS Group increased their price target on Ferguson from $228.00 to $236.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Barclays increased their target price on shares of Ferguson from $229.00 to $245.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. Oppenheimer initiated coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an "outperform" rating and a $234.00 price target on the stock. Robert W. Baird increased their price objective on shares of Ferguson from $225.00 to $230.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their target price on Ferguson from $211.00 to $219.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Ferguson presently has an average rating of "Moderate Buy" and an average target price of $233.38.

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.