PNC Financial Services Group Inc. Sells 3,730 Shares of Ferguson plc $FERG

PNC Financial Services Group Inc. lowered its stake in Ferguson plc (NYSE:FERG) by 42.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,124 shares of the company’s stock after selling 3,730 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Ferguson were worth $1,151,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Ferguson in the second quarter worth about $395,401,000. Franklin Resources Inc. increased its holdings in Ferguson by 39.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock worth $926,830,000 after acquiring an additional 1,201,493 shares during the period. First Eagle Investment Management LLC purchased a new stake in Ferguson in the 2nd quarter worth approximately $130,650,000. Artisan Partners Limited Partnership lifted its stake in Ferguson by 89.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 759,687 shares of the company’s stock worth $165,422,000 after purchasing an additional 358,853 shares in the last quarter. Finally, C WorldWide Group Holding A S boosted its holdings in Ferguson by 108.8% in the 3rd quarter. C WorldWide Group Holding A S now owns 535,363 shares of the company’s stock valued at $120,232,000 after purchasing an additional 278,971 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 1.4%

Shares of NYSE FERG opened at $251.31 on Tuesday. Ferguson plc has a one year low of $146.00 and a one year high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The firm’s 50 day simple moving average is $244.27 and its two-hundred day simple moving average is $239.18. The stock has a market capitalization of $49.14 billion, a P/E ratio of 25.38, a PEG ratio of 2.08 and a beta of 1.18.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 earnings per share 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 firm had revenue of $8.17 billion during the quarter. During the same quarter in the previous year, the firm posted $2.45 earnings per share. The company’s revenue was up 5.1% compared to the same quarter last year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, March 6th. Ferguson’s dividend payout ratio is presently 35.96%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FERG. Wells Fargo & Company upped their price target on shares of Ferguson from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Deutsche Bank Aktiengesellschaft upped their target price on Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research note on Thursday, December 11th. Robert W. Baird lifted their price target on Ferguson from $262.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, December 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferguson in a research note on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus price target of $253.00.

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.