2Xideas AG Sells 16,501 Shares of Ferguson plc $FERG

2Xideas AG cut its holdings in shares of Ferguson plc (NYSE:FERG) by 16.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,005 shares of the company’s stock after selling 16,501 shares during the period. Ferguson makes up about 3.0% of 2Xideas AG’s investment portfolio, making the stock its 6th largest holding. 2Xideas AG’s holdings in Ferguson were worth $17,639,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Smithfield Trust Co boosted its position in Ferguson by 3.5% during the 2nd quarter. Smithfield Trust Co now owns 1,342 shares of the company’s stock worth $291,000 after acquiring an additional 46 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Ferguson by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after purchasing an additional 48 shares in the last quarter. Hemington Wealth Management raised its stake in shares of Ferguson by 51.5% during the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares in the last quarter. Compound Planning Inc. raised its stake in shares of Ferguson by 4.6% during the first quarter. Compound Planning Inc. now owns 1,386 shares of the company’s stock valued at $222,000 after purchasing an additional 61 shares in the last quarter. Finally, True Wealth Design LLC lifted its holdings in Ferguson by 145.3% in the second 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. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of NYSE:FERG opened at $245.66 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $48.14 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 2.12 and a beta of 1.17. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $256.93. The business’s 50 day simple moving average is $242.79.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.00 by $0.48. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.44 billion.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, September 26th were issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, September 26th. Ferguson’s dividend payout ratio is currently 35.55%.

Analysts Set New Price Targets

FERG has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research note on Wednesday, September 10th. Wall Street Zen upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group raised their price objective on shares of Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Truist Financial upped their target price on Ferguson from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Finally, Royal Bank Of Canada increased their price target on Ferguson from $231.00 to $243.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $246.71.

Insiders Place Their Bets

In other Ferguson news, insider Ian T. Graham sold 4,864 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $233.22, for a total transaction of $1,134,382.08. Following the completion of the sale, the insider directly owned 7,769 shares of the company’s stock, valued at approximately $1,811,886.18. This represents a 38.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James A. Paisley sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total transaction of $710,910.00. Following the completion of the transaction, the insider owned 2,211 shares of the company’s stock, valued at approximately $523,940.67. The trade was a 57.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,264 shares of company stock worth $6,853,349 over the last three months. Company insiders own 0.18% of the company’s stock.

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.