Illinois Municipal Retirement Fund Sells 6,274 Shares of Ferguson plc $FERG

Illinois Municipal Retirement Fund lessened its holdings in Ferguson plc (NYSE:FERG) by 10.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FERG. Cornerstone Planning Group LLC increased its holdings in shares of Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after buying an additional 82 shares during the last quarter. True Wealth Design LLC increased its stake in Ferguson by 145.3% during the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after acquiring an additional 77 shares during the last quarter. Quent Capital LLC purchased a new stake in Ferguson during the third quarter valued at approximately $43,000. Harbour Investments Inc. lifted its stake in shares of Ferguson by 61.3% in the 2nd quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock valued at $53,000 after purchasing an additional 92 shares during the last quarter. Finally, AdvisorShares Investments LLC purchased a new position in shares of Ferguson in the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FERG. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a report on Tuesday, January 6th. Jefferies Financial Group raised their target price on shares of Ferguson from $268.00 to $289.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. UBS Group dropped their price target on shares of Ferguson from $225.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, December 10th. Sanford C. Bernstein reissued an “outperform” rating on shares of Ferguson in a research report on Thursday, January 8th. Finally, Robert W. Baird boosted their target price on Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Two research 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’s stock. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus price target of $253.00.

Ferguson Trading Down 1.4%

Shares of FERG opened at $263.52 on Friday. The firm has a market capitalization of $51.53 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $271.64. The company has a 50-day moving average of $240.72 and a 200 day moving average of $237.36.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The business had revenue of $8.17 billion for the quarter. During the same quarter in the prior year, the company earned $2.45 earnings per share. Ferguson’s revenue was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

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

About Ferguson

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.