Allstate Corp Invests $1.68 Million in Ferguson plc $FERG

Allstate Corp purchased a new stake in shares of Ferguson plc (NYSE:FERG) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,459 shares of the company’s stock, valued at approximately $1,675,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its stake in Ferguson by 145.3% in the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 77 shares during the period. Hemington Wealth Management boosted its position in Ferguson by 51.5% during the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after buying an additional 52 shares during the period. Fifth Third Bancorp increased its stake in shares of Ferguson by 230.8% in the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after buying an additional 120 shares during the period. Maseco LLP purchased a new position in Ferguson during the 2nd quarter valued at about $40,000. Finally, Quent Capital LLC bought a new stake in shares of Ferguson during the 3rd quarter valued at about $43,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

NYSE FERG opened at $242.81 on Wednesday. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $256.93. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The stock has a 50-day simple moving average of $236.71 and a two-hundred day simple moving average of $233.39. The firm has a market capitalization of $47.48 billion, a P/E ratio of 24.53, a PEG ratio of 2.04 and a beta of 1.18.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The business had revenue of $8.17 billion during the quarter. During the same quarter last year, the company posted $2.45 EPS. The company’s revenue was up 5.1% on a year-over-year basis.

Ferguson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.89 per share. This is a boost from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.56 annualized dividend and a yield of 1.5%. Ferguson’s dividend payout ratio is presently 35.96%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FERG. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research report on Wednesday, October 8th. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research note on Tuesday, January 6th. Jefferies Financial Group upped their price target on shares of Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Ferguson in a research note on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $253.00.

Ferguson Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.