Groupe la Francaise Raises Position in Ferguson plc $FERG

Groupe la Francaise increased its position in shares of Ferguson plc (NYSE:FERG) by 19.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,423 shares of the company’s stock after purchasing an additional 3,808 shares during the period. Groupe la Francaise’s holdings in Ferguson were worth $5,078,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Smithfield Trust Co increased its position in Ferguson by 3.5% during the 2nd quarter. Smithfield Trust Co now owns 1,342 shares of the company’s stock worth $291,000 after purchasing an additional 46 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ferguson by 7.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after buying an additional 48 shares in the last quarter. Hemington Wealth Management grew its holdings in Ferguson by 51.5% during the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after acquiring an additional 52 shares during the period. US Bancorp DE grew its holdings in Ferguson by 0.8% during the first quarter. US Bancorp DE now owns 7,394 shares of the company’s stock worth $1,185,000 after acquiring an additional 59 shares during the period. Finally, Compound Planning Inc. raised its position in Ferguson by 4.6% in the first quarter. Compound Planning Inc. now owns 1,386 shares of the company’s stock worth $222,000 after acquiring an additional 61 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of NYSE FERG opened at $252.89 on Thursday. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $256.93. The stock has a market capitalization of $49.56 billion, a P/E ratio of 27.08, a PEG ratio of 2.15 and a beta of 1.17. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The firm has a 50-day simple moving average of $241.43.

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

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, September 26th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, September 26th. Ferguson’s dividend payout ratio is currently 35.55%.

Analysts Set New Price Targets

FERG has been the topic of several research analyst reports. Barclays boosted their target price on shares of Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Wells Fargo & Company boosted their price objective on shares of Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a report on Wednesday, October 8th. Truist Financial lifted their price target on shares of Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Finally, Oppenheimer upped their price target on Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $246.41.

Insider Buying and Selling at Ferguson

In related news, insider Allison Stirrup sold 969 shares of Ferguson stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $234.23, for a total transaction of $226,968.87. Following the completion of the sale, the insider owned 5,058 shares in the company, valued at approximately $1,184,735.34. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James A. Paisley sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total transaction of $710,910.00. Following the completion of the transaction, the insider directly owned 2,211 shares of the company’s stock, valued at $523,940.67. The trade was a 57.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 29,264 shares of company stock valued at $6,853,349. 0.18% of the stock is owned by company insiders.

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.