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Highlights
Mount Yale Investment Advisors LLC reduced its holdings in Ferguson plc by 32.1% during the third quarter.
Significant institutional activity includes a 375.4% increase in shares by Bank of New York Mellon Corp.
Ferguson plc recently announced a quarterly dividend and has shown a year-over-year revenue increase.
Mount Yale Investment Advisors LLC has reported a 32.1% reduction in its holdings of Ferguson plc (NASDAQ:FERG) during the third quarter, as disclosed in its latest filing with the Securities and Exchange Commission. Following this adjustment, the firm holds 13,562 shares of Ferguson, valued at approximately $2.69 million at the end of the reporting period.
In addition to Mount Yale, several other large institutional entities have made notable adjustments to their positions in Ferguson. For instance, Bank of New York Mellon Corp significantly increased its stake by 375.4% during the second quarter, now owning over 6 million shares valued at more than $1.21 billion. Price T. Rowe Associates Inc. also expanded its holdings by 589% in the first quarter, acquiring an additional 1.38 million shares.
Ferguson's recent performance includes a report of $2.98 earnings per share for the last quarter, surpassing analysts' consensus estimate of $2.86. The company achieved revenues of approximately $7.95 billion for the quarter, reflecting a 1.4% increase year-over-year. Additionally, Ferguson has declared a quarterly dividend of $0.79 per share, with an annualized dividend yield of 1.59%.
On the stock performance front, shares opened at $198.38. Ferguson has demonstrated a market capitalization of around $39.82 billion, with a price-to-earnings (P/E) ratio of 23.26. The company maintains a solid financial position with a debt-to-equity ratio of 0.89 and liquidity ratios indicating adequate short-term financial health.
Analysts remain generally positive, with various firms adjusting their ratings and price projections for Ferguson. The stock has garnered a consensus rating of "Moderate Buy," with multiple firms emphasizing its potential for continued growth in the plumbing and heating product sectors in North America. Ferguson plc remains a significant player in its industry, providing a range of products and solutions to residential, commercial, and industrial markets.
