Skye Global Management LP Cuts Position in Ferguson plc (NASDAQ:FERG)

Skye Global Management LP trimmed its position in shares of Ferguson plc (NASDAQ:FERG) by 72.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,000 shares of the company’s stock after selling 256,000 shares during the period. Ferguson makes up approximately 0.5% of Skye Global Management LP’s holdings, making the stock its 19th biggest holding. Skye Global Management LP’s holdings in Ferguson were worth $19,063,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Suvretta Capital Management LLC increased its position in Ferguson by 55.3% in the third quarter. Suvretta Capital Management LLC now owns 225,210 shares of the company’s stock worth $44,720,000 after purchasing an additional 80,170 shares during the last quarter. Vinva Investment Management Ltd bought a new stake in shares of Ferguson in the 3rd quarter worth about $796,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Ferguson by 423.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company’s stock valued at $290,475,000 after acquiring an additional 1,183,143 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in Ferguson during the third quarter valued at approximately $205,000. Finally, FORA Capital LLC purchased a new position in shares of Ferguson in the 3rd quarter worth approximately $857,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Trading Up 0.4 %

NASDAQ:FERG opened at $213.27 on Friday. 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 $42.81 billion, a price-to-earnings ratio of 22.01, a PEG ratio of 2.07 and a beta of 1.20. The firm has a 50 day moving average of $201.47 and a 200 day moving average of $202.59. Ferguson plc has a 52 week low of $166.21 and a 52 week high of $225.63.

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

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were given a dividend of $0.79 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 1.48%. Ferguson’s dividend payout ratio is currently 37.05%.

Analyst Ratings Changes

FERG has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Oppenheimer began coverage on Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price on the stock. Wells Fargo & Company boosted their price objective on Ferguson from $225.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Robert W. Baird increased their target price on Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Barclays upped their price target on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Insider Buying and Selling at Ferguson

In other Ferguson news, CMO Victoria Morrissey sold 1,468 shares of Ferguson stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total transaction of $295,361.60. Following the completion of the sale, the chief marketing officer now directly owns 5,205 shares in the company, valued at approximately $1,047,246. The trade was a 22.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Richard Winckler sold 1,325 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the transaction, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at approximately $201,750. This trade represents a 56.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is currently owned by insiders.

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.