9,196 Ferguson plc $FERG Shares Acquired by Asset Management One Co. Ltd.

Key Points

• Asset Management One increased its Ferguson stake by 12.3% in the third quarter, purchasing 9,196 shares and bringing its total holdings to 83,915 shares valued at approximately $18.7 million. Institutional investors collectively own 81.98% of the company.
• Analysts maintain a generally positive outlook, with Ferguson carrying a “Moderate Buy” consensus rating and an average price target of $287.44. Recent targets range from $270 to $313.
• Ferguson exceeded quarterly earnings expectations, reporting EPS of $3.39 versus the $3.23 consensus estimate, while shares opened at $240.40. The company also pays a quarterly dividend of $0.89 per share, representing a 1.5% annualized yield.

Asset Management One Co. Ltd. increased its holdings in shares of Ferguson plc (NYSE:FERG - Free Report) by 12.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,915 shares of the company's stock after buying an additional 9,196 shares during the period. Asset Management One Co. Ltd.'s holdings in Ferguson were worth $18,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Farmers & Merchants Investments Inc. purchased a new position in Ferguson during the third quarter valued at $28,000. Compass Financial Management LLC acquired a new stake in shares of Ferguson in the second quarter valued at about $32,000. Eastern Bank purchased a new stake in shares of Ferguson during the second quarter worth about $42,000. Vega Investment Solutions increased its stake in shares of Ferguson by 50.5% during the second quarter. Vega Investment Solutions now owns 277 shares of the company's stock worth $66,000 after purchasing an additional 93 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Ferguson by 26.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 300 shares of the company's stock worth $67,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Insider Buying and Selling

In related news, insider Ian Graham sold 1,097 shares of the business's stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $230.00, for a total value of $252,310.00. Following the sale, the insider directly owned 9,874 shares in the company, valued at approximately $2,271,020. The trade was a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Allison Stirrup sold 922 shares of the business's stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $225.00, for a total transaction of $207,450.00. Following the completion of the sale, the insider directly owned 7,038 shares in the company, valued at $1,583,550. This trade represents a 11.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 38,808 shares of company stock valued at $8,571,587. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FERG shares. Barclays lifted their price objective on Ferguson from $297.00 to $313.00 and gave the stock an "overweight" rating in a report on Tuesday, August 11th. The Goldman Sachs Group reduced their target price on Ferguson from $290.00 to $270.00 and set a "neutral" rating for the company in a report on Tuesday, September 15th. DA Davidson raised their target price on Ferguson from $278.00 to $284.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Rothschild & Co Redburn lifted their price target on Ferguson from $295.00 to $307.00 and gave the stock a "buy" rating in a research note on Tuesday, August 11th. Finally, Wolfe Research assumed coverage on Ferguson in a research report on Tuesday, September 15th. They set a "peer perform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $287.44.

Ferguson Stock Performance

Shares of Ferguson stock opened at $240.40 on Friday. The business's 50 day moving average price is $225.03 and its 200 day moving average price is $237.33. The company has a market cap of $46.51 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 1.66 and a beta of 1.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. Ferguson plc has a one year low of $212.13 and a one year high of $271.64.

Ferguson (NYSE:FERG - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.16. The company had revenue of $8.75 billion during the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. On average, research analysts predict that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st were paid a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, August 21st. This represents a $3.56 annualized dividend and a yield of 1.5%. Ferguson's dividend payout ratio (DPR) is 41.83%.

About Ferguson

Ferguson plc NYSE: FERG is a value-added distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, fire protection and other building and industrial products. The company serves professional contractors, municipalities, commercial and industrial businesses, and other customers through a network of branches, distribution centers, showrooms and digital platforms.

Its product offering includes pipes, valves, fittings, plumbing fixtures, water and wastewater infrastructure products, HVAC equipment, fire protection systems, industrial supplies and related tools and services.

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