Atria Investments Inc Decreases Stake in Ferguson plc (NASDAQ:FERG)

Atria Investments Inc cut its position in Ferguson plc (NASDAQ:FERG) by 11.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,949 shares of the company’s stock after selling 2,346 shares during the period. Atria Investments Inc’s holdings in Ferguson were worth $3,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Asset Dedication LLC purchased a new position in Ferguson in the third quarter valued at $27,000. EdgeRock Capital LLC purchased a new position in shares of Ferguson in the 2nd quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new position in shares of Ferguson in the 3rd quarter valued at about $37,000. Reston Wealth Management LLC acquired a new stake in shares of Ferguson during the 3rd quarter worth about $40,000. Finally, Canoe Financial LP purchased a new stake in Ferguson during the third quarter worth approximately $41,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of FERG stock opened at $205.66 on Thursday. Ferguson plc has a 52-week low of $162.61 and a 52-week high of $225.63. The stock’s 50-day moving average price is $198.97 and its 200 day moving average price is $203.29. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $41.28 billion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 2.00 and a beta of 1.20.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter in the prior year, the business earned $2.77 earnings per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Friday, September 27th. Ferguson’s payout ratio is 37.05%.

Insider Activity

In related news, CMO Victoria Morrissey sold 1,468 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now owns 5,205 shares in the company, valued at $1,047,246. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CMO Victoria Morrissey sold 1,468 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.20, for a total transaction of $295,361.60. Following the transaction, the chief marketing officer now owns 5,205 shares of the company’s stock, valued at $1,047,246. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Garland Williams sold 1,118 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the completion of the transaction, the senior vice president now owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock valued at $2,477,901 over the last quarter. Corporate insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on FERG shares. Robert W. Baird raised their price objective on shares of Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. UBS Group lifted their price target on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company raised their price objective on Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Finally, Citigroup raised their price target on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $233.38.

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.