Bleakley Financial Group LLC cut its position in Ferguson plc (NASDAQ:FERG – Free Report) by 17.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,112 shares of the company’s stock after selling 241 shares during the quarter. Bleakley Financial Group LLC’s holdings in Ferguson were worth $221,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Asset Dedication LLC acquired a new stake in shares of Ferguson in the 3rd quarter worth $27,000. EdgeRock Capital LLC purchased a new stake in Ferguson in the second quarter valued at about $32,000. MCF Advisors LLC acquired a new stake in Ferguson in the first quarter worth about $47,000. Versant Capital Management Inc grew its stake in shares of Ferguson by 2,462.5% during the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after acquiring an additional 394 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Ferguson during the second quarter valued at about $105,000. 81.98% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have weighed in on FERG. Royal Bank of Canada boosted their target price on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Citigroup upped their target price on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. UBS Group raised their target price on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Barclays boosted their price target on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, Oppenheimer started coverage on Ferguson in a research note on Wednesday. They issued an “outperform” rating and a $234.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $232.50.
Insider Buying and Selling
In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total value of $527,319.04. Following the sale, the vice president now directly owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. 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 accessible through this hyperlink. In related news, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the transaction, the senior vice president now owns 1,882 shares in the company, valued at $378,696.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction dated Monday, October 14th. The stock was 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 owns 1,116 shares in the company, valued at approximately $224,271.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,313 shares of company stock valued at $2,477,901. 0.15% of the stock is owned by company insiders.
Ferguson Trading Down 0.3 %
Shares of NASDAQ:FERG opened at $195.50 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. Ferguson plc has a 12-month low of $147.62 and a 12-month high of $225.63. The business has a 50 day moving average of $200.71 and a two-hundred day moving average of $204.67. The company has a market capitalization of $39.48 billion, a PE ratio of 21.44, a PEG ratio of 3.42 and a beta of 1.20.
Ferguson (NASDAQ:FERG – Get Free Report) last announced its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the prior year, the firm posted $2.77 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts forecast that Ferguson plc will post 9.86 EPS for the current year.
Ferguson Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.79 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.62%. Ferguson’s dividend payout ratio is presently 34.54%.
Ferguson Company 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.
Featured Articles
- Five stocks we like better than Ferguson
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- How to Use the MarketBeat Stock Screener
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Want to see what other hedge funds are holding FERG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferguson plc (NASDAQ:FERG – Free Report).
Receive News & Ratings for Ferguson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferguson and related companies with MarketBeat.com's FREE daily email newsletter.