AEGON ASSET MANAGEMENT UK Plc Purchases New Position in Ferguson plc $FERG

Key Points

• AEGON Asset Management UK opened a new Ferguson position, purchasing 119,476 shares valued at about $26.6 million, or 0.06% of the company. Institutional investors and hedge funds collectively own about 82% of Ferguson.
• Ferguson reported quarterly EPS of $3.43, beating the $3.28 consensus estimate, on revenue of $9.03 billion. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $287.44.
• Ferguson declared a quarterly dividend of $0.89 per share, equivalent to $3.56 annually and a 1.4% yield.

AEGON ASSET MANAGEMENT UK Plc bought a new stake in Ferguson plc (NYSE:FERG - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 119,476 shares of the company's stock, valued at approximately $26,598,000. AEGON ASSET MANAGEMENT UK Plc owned 0.06% of Ferguson at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. AlphaCore Capital LLC lifted its holdings in Ferguson by 189.1% in the 3rd quarter. AlphaCore Capital LLC now owns 8,623 shares of the company's stock valued at $1,923,000 after purchasing an additional 5,640 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in Ferguson during the 3rd quarter worth approximately $9,031,000. Allspring Global Investments Holdings LLC increased its holdings in Ferguson by 67.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 133,794 shares of the company's stock worth $29,634,000 after purchasing an additional 53,666 shares during the period. Candriam S.C.A. increased its holdings in Ferguson by 3.2% in the third quarter. Candriam S.C.A. now owns 62,534 shares of the company's stock valued at $13,972,000 after buying an additional 1,922 shares during the last quarter. Finally, Ethic Inc. raised its stake in Ferguson by 4.6% in the third quarter. Ethic Inc. now owns 20,683 shares of the company's stock valued at $4,605,000 after buying an additional 907 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FERG has been the topic of a number of research analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of Ferguson in a research report on Tuesday, September 29th. Morgan Stanley raised their target price on shares of Ferguson from $290.00 to $295.00 in a research report on Wednesday, August 19th. Melius Research initiated coverage on Ferguson in a report on Tuesday, October 6th. They issued a "hold" rating and a $252.00 price target for the company. Robert W. Baird raised their price objective on Ferguson from $285.00 to $288.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Finally, Rothschild & Co Redburn increased their target price on Ferguson from $295.00 to $307.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $287.44.

Ferguson Stock Performance

FERG opened at $259.63 on Tuesday. Ferguson plc has a fifty-two week low of $212.13 and a fifty-two week high of $271.64. The business has a fifty day simple moving average of $226.03 and a 200-day simple moving average of $237.21. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The firm has a market cap of $50.23 billion, a PE ratio of 30.51, a P/E/G ratio of 1.79 and a beta of 1.11.

Ferguson (NYSE:FERG - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported $3.43 EPS for the quarter, beating the consensus estimate of $3.28 by $0.15. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The business had revenue of $9.03 billion during the quarter. As a group, equities analysts predict that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 8th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.89 per share. The ex-dividend date is Friday, November 20th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson's dividend payout ratio (DPR) is currently 41.83%.

Insider Buying and Selling

In other news, COO William Thees, Jr. sold 3,510 shares of Ferguson stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $220.00, for a total value of $772,200.00. Following the transaction, the chief operating officer owned 32,680 shares of the company's stock, valued at $7,189,600. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Murphy sold 11,259 shares of the business's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $216.78, for a total transaction of $2,440,726.02. Following the transaction, the insider directly owned 173,863 shares in the company, valued at $37,690,021.14. This trade represents a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 38,808 shares of company stock valued at $8,571,587. 0.15% of the stock is owned by corporate insiders.

About Ferguson

Ferguson plc is a distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, and fire protection products. It supplies contractors and other professional customers with products, services, and expertise for residential, commercial, industrial, and infrastructure projects.

The company serves customers primarily in the United States and Canada through branches, distribution centers, and digital channels. Its offerings include pipes, valves and fittings, plumbing fixtures, HVAC equipment, water and wastewater products, and fire protection systems.

Ferguson traces its history to Wolseley, a British company that entered the plumbing and heating distribution business in the 1950s.

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