Boston Partners Boosts Stock Position in Ferguson plc $FERG

Boston Partners raised its holdings in Ferguson plc (NYSE:FERG) by 27.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,445 shares of the company’s stock after purchasing an additional 2,052 shares during the period. Boston Partners’ holdings in Ferguson were worth $2,057,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FERG. True Wealth Design LLC increased its stake in shares of Ferguson by 145.3% in the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after buying an additional 77 shares during the last quarter. Hemington Wealth Management grew its holdings in Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares in the last quarter. Brooklyn Investment Group increased its position in shares of Ferguson by 103.6% in the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock worth $36,000 after purchasing an additional 115 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $37,000 after purchasing an additional 120 shares in the last quarter. Finally, Maseco LLP bought a new position in shares of Ferguson during the second quarter worth about $40,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

NYSE:FERG opened at $251.67 on Friday. The firm has a market cap of $49.32 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 2.05 and a beta of 1.18. The firm’s 50 day moving average is $240.15. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $256.93.

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

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, September 26th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 26th. Ferguson’s payout ratio is presently 35.55%.

Insider Transactions at Ferguson

In other Ferguson news, insider Kevin Michael Murphy sold 8,800 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $234.13, for a total value of $2,060,344.00. Following the completion of the transaction, the insider owned 159,931 shares in the company, valued at approximately $37,444,645.03. This represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ian T. Graham sold 4,864 shares of Ferguson stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $233.22, for a total value of $1,134,382.08. Following the sale, the insider directly owned 7,769 shares in the company, valued at approximately $1,811,886.18. This trade represents a 38.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 29,264 shares of company stock worth $6,853,349 in the last quarter. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FERG. Wall Street Zen lowered Ferguson from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial boosted their price target on Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a research note on Wednesday, September 10th. Royal Bank Of Canada lifted their price objective on shares of Ferguson from $231.00 to $243.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, Oppenheimer boosted their target price on shares of Ferguson from $235.00 to $255.00 and gave the company an “outperform” rating in a research note 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.75.

Ferguson Company Profile

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.