International Assets Investment Management LLC Purchases New Position in Ferguson plc (NASDAQ:FERG)

International Assets Investment Management LLC purchased a new stake in shares of Ferguson plc (NASDAQ:FERG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,297 shares of the company’s stock, valued at approximately $28,390,000.

Several other institutional investors also recently bought and sold shares of FERG. Asset Dedication LLC purchased a new position in Ferguson during the third quarter valued at approximately $27,000. EdgeRock Capital LLC acquired a new stake in Ferguson in the second quarter valued at approximately $32,000. Versant Capital Management Inc grew its holdings in Ferguson by 2,462.5% in the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after purchasing an additional 394 shares during the period. Opal Wealth Advisors LLC acquired a new stake in Ferguson in the second quarter valued at approximately $105,000. Finally, Triad Wealth Partners LLC acquired a new stake in Ferguson in the second quarter valued at approximately $126,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Oppenheimer assumed coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target on the stock. UBS Group lifted their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Citigroup lifted their price objective on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Robert W. Baird lifted their price objective on Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company reduced their target price on Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $232.50.

Insider Buying and Selling

In related news, CAO Richard Winckler sold 1,325 shares of the business’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 completion of the transaction, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at $201,750. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CAO Richard Winckler sold 1,325 shares of the business’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 completion of the transaction, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at $201,750. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $200.96, for a total value of $527,319.04. Following the transaction, the vice president now directly owns 1,116 shares of the company’s stock, valued at $224,271.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock valued at $2,477,901 in the last three months. 0.16% of the stock is owned by corporate insiders.

Ferguson Price Performance

FERG stock opened at $197.24 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $39.59 billion, a PE ratio of 23.12, a P/E/G ratio of 1.91 and a beta of 1.20. Ferguson plc has a 12-month low of $147.62 and a 12-month high of $225.63. The business’s fifty day moving average price is $199.92 and its 200 day moving average price is $203.99.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.12. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.77 EPS. On average, sell-side analysts anticipate that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.60%. Ferguson’s payout ratio is 37.05%.

About Ferguson

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.