2,200 Shares in Ferguson plc $FERG Purchased by Cannon Global Investment Management LLC

Key Points

• Cannon Global Investment Management LLC has acquired 2,200 shares of Ferguson plc, valued at approximately $479,000, during the 2nd quarter.
• Ferguson reported a quarterly earnings per share (EPS) of $3.48, exceeding analyst estimates of $3.00, with a revenue of $8.50 billion for the quarter.
• The company will pay a quarterly dividend of $0.83 per share on November 7th, reflecting an annualized dividend of $3.32 and a yield of 1.4%.

Cannon Global Investment Management LLC acquired a new position in shares of Ferguson plc (NYSE:FERG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 2,200 shares of the company's stock, valued at approximately $479,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Ferguson by 4.4% during the first quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock worth $3,071,408,000 after acquiring an additional 806,718 shares during the period. Bank of New York Mellon Corp raised its stake in Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after acquiring an additional 1,506,024 shares during the period. Invesco Ltd. raised its stake in Ferguson by 13.8% during the first quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock worth $1,092,576,000 after acquiring an additional 827,355 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Ferguson by 65.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock worth $713,740,000 after acquiring an additional 1,755,464 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its stake in Ferguson by 101.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock worth $667,498,000 after acquiring an additional 2,094,029 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Price Performance

NYSE FERG opened at $237.02 on Friday. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $243.40. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $46.45 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.94 and a beta of 1.17. The company's 50 day moving average is $230.41.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, beating analysts' consensus estimates of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.44 billion.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th 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 1.4%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio (DPR) is currently 35.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Barclays raised their price target on shares of Ferguson from $247.00 to $273.00 and gave the company an "overweight" rating in a research note on Thursday, September 18th. UBS Group raised their price target on shares of Ferguson from $204.00 to $225.00 and gave the company a "neutral" rating in a research note on Wednesday, September 17th. Morgan Stanley restated an "overweight" rating on shares of Ferguson in a research note on Wednesday, September 10th. Wells Fargo & Company raised their price target on shares of Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Ferguson in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.14.

Insider Buying and Selling at Ferguson

In related news, insider Kevin Michael Murphy sold 8,800 shares of the firm's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $234.13, for a total transaction of $2,060,344.00. Following the transaction, the insider owned 159,931 shares in the company, valued at $37,444,645.03. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ian T. Graham sold 4,864 shares of the firm's stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $233.22, for a total transaction of $1,134,382.08. Following the transaction, the insider owned 7,769 shares in the company, valued at $1,811,886.18. This represents a 38.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,264 shares of company stock valued at $6,853,349. 0.16% of the stock is currently owned by company insiders.

Ferguson Company Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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