Sumitomo Mitsui Trust Holdings Inc. Cuts Holdings in Ferguson plc (NASDAQ:FERG)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in Ferguson plc (NASDAQ:FERG) by 20.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 430,751 shares of the company’s stock after selling 109,530 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Ferguson were worth $83,415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. BayBridge Capital Group LLC boosted its stake in shares of Ferguson by 2.0% in the 1st quarter. BayBridge Capital Group LLC now owns 2,373 shares of the company’s stock valued at $494,000 after purchasing an additional 47 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in Ferguson by 3.0% during the 1st quarter. Verdence Capital Advisors LLC now owns 1,663 shares of the company’s stock valued at $363,000 after buying an additional 48 shares during the period. OneAscent Financial Services LLC boosted its position in Ferguson by 1.9% during the 1st quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock valued at $565,000 after buying an additional 49 shares during the period. Venturi Wealth Management LLC boosted its position in Ferguson by 60.0% during the 1st quarter. Venturi Wealth Management LLC now owns 136 shares of the company’s stock valued at $30,000 after buying an additional 51 shares during the period. Finally, Financial Advocates Investment Management boosted its position in Ferguson by 2.7% during the 4th quarter. Financial Advocates Investment Management now owns 1,995 shares of the company’s stock valued at $385,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $206.07 on Monday. The company has a 50 day moving average price of $202.11 and a 200-day moving average price of $206.86. Ferguson plc has a 52 week low of $147.62 and a 52 week high of $225.63. The firm has a market capitalization of $41.61 billion, a PE ratio of 22.52, a P/E/G ratio of 6.13 and a beta of 1.22. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, June 4th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.05. The company had revenue of $7.31 billion during the quarter, compared to analyst estimates of $7.32 billion. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.20 earnings per share. As a group, equities research analysts expect that Ferguson plc will post 9.66 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 14th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.53%. The ex-dividend date was Friday, June 14th. Ferguson’s dividend payout ratio is currently 34.54%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Barclays dropped their price target on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Royal Bank of Canada dropped their price target on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a research report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $230.00.

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.