Thrivent Financial for Lutherans Reduces Position in Ferguson plc (NASDAQ:FERG)

Thrivent Financial for Lutherans decreased its holdings in Ferguson plc (NASDAQ:FERG) by 5.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 150,043 shares of the company’s stock after selling 8,758 shares during the period. Thrivent Financial for Lutherans’ holdings in Ferguson were worth $26,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of FERG. True Wealth Design LLC grew its stake in Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after buying an additional 135 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of Ferguson by 906.7% in the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. Berbice Capital Management LLC bought a new stake in shares of Ferguson during the 4th quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in Ferguson during the 3rd quarter worth about $45,000. Finally, Private Trust Co. NA boosted its stake in Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock worth $45,000 after purchasing an additional 124 shares during the period. Institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on Ferguson from $205.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 12th. UBS Group reiterated a “neutral” rating and issued a $193.00 target price (down from $230.00) on shares of Ferguson in a research note on Wednesday, January 8th. Wolfe Research began coverage on shares of Ferguson in a research report on Monday. They set a “peer perform” rating for the company. Berenberg Bank increased their price objective on Ferguson from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley initiated coverage on Ferguson in a research report on Monday, February 3rd. They set an “overweight” rating and a $204.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.67.

Ferguson Price Performance

Shares of Ferguson stock opened at $163.83 on Friday. The firm has a market capitalization of $32.76 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a 12 month low of $152.52 and a 12 month high of $225.63. The business’s 50-day moving average price is $175.16 and its 200-day moving average price is $189.05.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.74 earnings per share. Sell-side analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s dividend payout ratio is presently 40.84%.

Ferguson Company 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.