Principal Financial Group Inc. Raises Stake in Ferguson plc (NASDAQ:FERG)

Principal Financial Group Inc. boosted its stake in Ferguson plc (NASDAQ:FERG) by 32.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,025 shares of the company’s stock after purchasing an additional 7,862 shares during the quarter. Principal Financial Group Inc.’s holdings in Ferguson were worth $6,359,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Asset Dedication LLC purchased a new position in Ferguson during the third quarter valued at approximately $27,000. True Wealth Design LLC boosted its holdings in Ferguson by 1,350.0% in the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock valued at $29,000 after purchasing an additional 135 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Ferguson during the 3rd quarter valued at $37,000. Peterson Financial Group Inc. bought a new position in shares of Ferguson in the third quarter worth $39,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Ferguson in the third quarter worth $40,000. 81.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on FERG shares. Citigroup upped their target price on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Oppenheimer started coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price on the stock. Barclays decreased their price target on shares of Ferguson from $245.00 to $234.00 and set an “overweight” rating on the stock in a report on Thursday, December 12th. UBS Group lifted their price objective on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Berenberg Bank raised their price target on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.44.

Insider Transactions at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of the firm’s 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 sale, the vice president now directly owns 1,116 shares of the company’s stock, valued at $224,271.36. This trade represents a 70.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the transaction, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 37.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,313 shares of company stock worth $2,477,901. Insiders own 0.16% of the company’s stock.

Ferguson Trading Down 0.0 %

NASDAQ FERG opened at $173.57 on Thursday. The firm has a market cap of $34.70 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.90 and a beta of 1.21. Ferguson plc has a 1-year low of $171.68 and a 1-year high of $225.63. The stock has a 50-day moving average of $198.51 and a 200-day moving average of $200.18. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89.

Ferguson Increases Dividend

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

Ferguson 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.