US Bancorp DE Raises Stake in Ferguson plc (NASDAQ:FERG)

US Bancorp DE raised its holdings in shares of Ferguson plc (NASDAQ:FERG) by 25.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,190 shares of the company’s stock after acquiring an additional 1,440 shares during the period. US Bancorp DE’s holdings in Ferguson were worth $1,428,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in FERG. Asset Dedication LLC bought a new position in shares of Ferguson during the 3rd quarter valued at $27,000. EdgeRock Capital LLC purchased a new position in shares of Ferguson in the second quarter worth about $32,000. Canoe Financial LP bought a new stake in shares of Ferguson in the 3rd quarter valued at about $41,000. Versant Capital Management Inc boosted its holdings in Ferguson by 2,462.5% during the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after acquiring an additional 394 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in Ferguson during the 2nd quarter worth approximately $105,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Down 0.0 %

FERG stock opened at $210.82 on Friday. Ferguson plc has a fifty-two week low of $154.61 and a fifty-two week high of $225.63. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. The business’s 50 day moving average price is $198.60 and its two-hundred day moving average price is $203.46. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.77 earnings per share. As a group, analysts forecast that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.50%. Ferguson’s payout ratio is 37.05%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FERG. UBS Group boosted their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Company increased their price target on shares of Ferguson from $225.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup boosted their price objective on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Barclays increased their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Finally, Royal Bank of Canada boosted their price target on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.38.

Insider Activity at Ferguson

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the sale, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ian T. Graham sold 5,778 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the completion of the transaction, the insider now directly owns 5,938 shares in the company, valued at $1,195,141.26. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,313 shares of company stock valued at $2,477,901 in the last three months. Company insiders own 0.16% of the company’s stock.

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.