Kolinsky Wealth Management LLC Cuts Position in Ferguson plc (NASDAQ:FERG)

Kolinsky Wealth Management LLC cut its position in Ferguson plc (NASDAQ:FERG) by 7.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,025 shares of the company’s stock after selling 78 shares during the period. Kolinsky Wealth Management LLC’s holdings in Ferguson were worth $204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC boosted its stake in shares of Ferguson by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock valued at $657,000 after buying an additional 57 shares during the period. Transatlantique Private Wealth LLC increased its position in shares of Ferguson by 3.0% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock valued at $394,000 after purchasing an additional 60 shares during the last quarter. Mayflower Financial Advisors LLC raised its holdings in shares of Ferguson by 3.2% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock valued at $388,000 after purchasing an additional 61 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Ferguson by 3.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,130 shares of the company’s stock worth $412,000 after purchasing an additional 78 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Ferguson by 33.8% in the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock valued at $72,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Insider Activity

In other Ferguson news, CMO Victoria Morrissey sold 1,468 shares of the business’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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the completion of the sale, the vice president now directly owns 1,116 shares in the company, valued at $224,271.36. This trade represents a 70.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock worth $2,477,901 in the last 90 days. 0.16% of the stock is currently owned by corporate insiders.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $216.01 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 company has a 50-day moving average price of $201.57 and a 200 day moving average price of $202.66. Ferguson plc has a 52 week low of $167.09 and a 52 week high of $225.63. The company has a market cap of $43.36 billion, a P/E ratio of 22.01, a PEG ratio of 2.07 and a beta of 1.20.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 EPS 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 analysts’ expectations of $8.01 billion. During the same period last year, the firm earned $2.77 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Research analysts predict that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid 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 dividend yield of 1.46%. Ferguson’s dividend payout ratio (DPR) is presently 37.05%.

Analyst Ratings Changes

Several research analysts have recently issued reports on FERG shares. Robert W. Baird upped their price objective on Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group upped their target price on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Barclays boosted their price target on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Royal Bank of Canada boosted their target price on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Citigroup boosted their price objective on Ferguson from $203.00 to $221.00 and gave the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $233.38.

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.