Catalyst Funds Management Pty Ltd Purchases New Position in Ferguson plc $FERG

Catalyst Funds Management Pty Ltd acquired a new position in shares of Ferguson plc (NYSE:FERG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,200 shares of the company’s stock, valued at approximately $2,657,000. Ferguson comprises about 0.7% of Catalyst Funds Management Pty Ltd’s holdings, making the stock its 24th biggest holding.

Several other hedge funds also recently modified their holdings of the company. True Wealth Design LLC grew its position in Ferguson by 145.3% during the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after acquiring an additional 77 shares during the last quarter. Hemington Wealth Management boosted its stake in Ferguson by 51.5% in the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Ferguson by 230.8% during the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after purchasing an additional 120 shares during the last quarter. Maseco LLP acquired a new stake in shares of Ferguson in the second quarter valued at $40,000. Finally, Brooklyn Investment Group raised its holdings in shares of Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock valued at $36,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FERG shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Ferguson in a report on Wednesday, October 8th. Wells Fargo & Company upped their target price on shares of Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 17th. Zacks Research raised shares of Ferguson to a “hold” rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a research report on Monday, October 20th. Finally, Royal Bank Of Canada increased their price objective on Ferguson from $231.00 to $243.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.75.

Insider Transactions at Ferguson

In related news, insider James A. Paisley sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total value of $710,910.00. Following the sale, the insider directly owned 2,211 shares in the company, valued at $523,940.67. This trade represents a 57.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kevin Michael Murphy sold 8,800 shares of Ferguson stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $234.13, for a total transaction of $2,060,344.00. Following the transaction, the insider directly owned 159,931 shares in the company, valued at $37,444,645.03. The trade was a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 29,264 shares of company stock valued at $6,853,349. Corporate insiders own 0.18% of the company’s stock.

Ferguson Price Performance

FERG opened at $237.06 on Thursday. The business’s 50 day simple moving average is $237.18. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $256.93. The company has a market capitalization of $46.46 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.48. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, September 26th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, September 26th. Ferguson’s dividend payout ratio is currently 35.55%.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.