Oliver Luxxe Assets LLC Has $6.27 Million Stock Position in Ferguson plc (NASDAQ:FERG)

Oliver Luxxe Assets LLC reduced its position in shares of Ferguson plc (NASDAQ:FERG) by 6.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,567 shares of the company’s stock after selling 2,113 shares during the quarter. Ferguson comprises about 1.1% of Oliver Luxxe Assets LLC’s portfolio, making the stock its 21st biggest position. Oliver Luxxe Assets LLC’s holdings in Ferguson were worth $6,268,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Ferguson during the 3rd quarter worth approximately $25,549,000. CHICAGO TRUST Co NA increased its holdings in Ferguson by 6.8% during the 3rd quarter. CHICAGO TRUST Co NA now owns 2,304 shares of the company’s stock worth $458,000 after purchasing an additional 146 shares in the last quarter. Perfromance Wealth Partners LLC bought a new stake in Ferguson during the 3rd quarter worth approximately $321,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Ferguson during the 3rd quarter worth approximately $11,413,000. Finally, Scott Capital Advisors LLC increased its holdings in Ferguson by 26.8% during the 3rd quarter. Scott Capital Advisors LLC now owns 1,914 shares of the company’s stock worth $380,000 after purchasing an additional 404 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on FERG. Royal Bank of Canada boosted their price objective on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. UBS Group boosted their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Barclays boosted their price objective on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Jefferies Financial Group boosted their price objective on Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Wells Fargo & Company reduced their target price on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.57.

Ferguson Stock Performance

FERG stock opened at $198.69 on Monday. The firm has a market cap of $39.89 billion, a PE ratio of 23.29, a P/E/G ratio of 3.31 and a beta of 1.20. 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 business has a 50 day moving average of $200.24 and a 200-day moving average of $205.55. Ferguson plc has a 12-month low of $147.62 and a 12-month high of $225.63.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, beating 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 analyst estimates of $8.01 billion. During the same period in the prior year, the company earned $2.77 earnings per share. Ferguson’s revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Ferguson plc will post 9.86 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, September 27th. Ferguson’s dividend payout ratio (DPR) is 37.05%.

About Ferguson

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.