Principal Financial Group Inc. Has $6.36 Million Stake in Ferguson plc (NASDAQ:FERG)

Principal Financial Group Inc. lifted its stake in shares of Ferguson plc (NASDAQ:FERG) by 32.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,025 shares of the company’s stock after acquiring an additional 7,862 shares during the period. Principal Financial Group Inc.’s holdings in Ferguson were worth $6,359,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lord Abbett & CO. LLC grew its stake in shares of Ferguson by 9.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 518,867 shares of the company’s stock valued at $103,031,000 after buying an additional 46,947 shares during the period. Franklin Resources Inc. grew its stake in Ferguson by 6.0% in the third quarter. Franklin Resources Inc. now owns 2,371,954 shares of the company’s stock valued at $477,858,000 after acquiring an additional 133,769 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Ferguson during the third quarter valued at approximately $66,000. Anchor Investment Management LLC bought a new position in shares of Ferguson in the 3rd quarter worth $112,000. Finally, Neo Ivy Capital Management acquired a new stake in Ferguson in the 3rd quarter valued at $970,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Insider Buying and Selling at Ferguson

In other news, CAO Richard Winckler sold 1,325 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the transaction, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at $201,750. This represents a 56.99 % decrease in their position. The sale was disclosed in a filing 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 directly owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. This trade represents a 70.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock worth $2,477,901 over the last three months. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on FERG shares. Citigroup boosted their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Barclays dropped their price target on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a research report on Thursday, December 12th. Robert W. Baird cut their price target on Ferguson from $230.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Oppenheimer started coverage on Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective for the company. Finally, Berenberg Bank raised their target price on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.44.

Ferguson Trading Down 0.0 %

NASDAQ FERG opened at $173.57 on Thursday. The business’s fifty day moving average is $198.51 and its 200-day moving average is $200.18. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The stock has a market capitalization of $34.70 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.90 and a beta of 1.21. Ferguson plc has a one year low of $171.68 and a one year high of $225.63.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.91%. This is a boost from Ferguson’s previous quarterly dividend of $0.79. The ex-dividend date is Friday, December 20th. Ferguson’s payout ratio is presently 39.86%.

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.