Diversified Management Inc. Acquires 11,771 Shares of Ferguson plc $FERG

Key Points

• Diversified Management increased its Ferguson stake by 356.8% in the third quarter, acquiring 11,771 additional shares and bringing its holdings to 15,070 shares valued at approximately $3.36 million. Institutional investors collectively own 81.98% of the company.
• Analysts maintain a generally positive outlook, with Ferguson receiving a consensus “Moderate Buy” rating and an average price target of $283.07, versus the stock’s reported opening price of $216.27.
• Ferguson exceeded quarterly earnings expectations, reporting EPS of $3.39 versus the $3.23 consensus estimate, and paid a quarterly dividend of $0.89 per share, representing a 1.6% annualized yield.

Diversified Management Inc. grew its position in Ferguson plc (NYSE:FERG - Free Report) by 356.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,070 shares of the company's stock after purchasing an additional 11,771 shares during the period. Diversified Management Inc.'s holdings in Ferguson were worth $3,355,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Norman Fields Gottscho Capital Management LLC increased its holdings in Ferguson by 1.4% in the third quarter. Norman Fields Gottscho Capital Management LLC now owns 14,628 shares of the company's stock valued at $3,256,000 after buying an additional 205 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in 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. CX Institutional boosted its position in Ferguson by 12,555.9% during the third quarter. CX Institutional now owns 36,449 shares of the company's stock worth $8,114,000 after purchasing an additional 36,161 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Ferguson by 10.6% in the second quarter. QRG Capital Management Inc. now owns 31,697 shares of the company's stock valued at $7,523,000 after purchasing an additional 3,047 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Ferguson by 9.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,096 shares of the company's stock valued at $1,447,000 after buying an additional 524 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.

Wall Street Analyst Weigh In

FERG has been the subject of several recent research reports. Royal Bank Of Canada reduced their price objective on Ferguson from $290.00 to $286.00 and set an "outperform" rating for the company in a research note on Wednesday. Barclays upped their price objective on Ferguson from $297.00 to $313.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Wolfe Research assumed coverage on Ferguson in a research report on Tuesday, September 15th. They set a "peer perform" rating on the stock. Robert W. Baird upped their target price on shares of Ferguson from $285.00 to $288.00 and gave the company an "outperform" rating in a report on Tuesday, August 11th. Finally, Jefferies Financial Group set a $295.00 price objective on Ferguson in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $283.07.

Ferguson Price Performance

FERG stock opened at $216.27 on Friday. The stock has a market capitalization of $41.84 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 1.49 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Ferguson plc has a 52-week low of $212.13 and a 52-week high of $271.64. The stock's fifty day simple moving average is $231.22 and its 200-day simple moving average is $234.62.

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

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Friday, August 21st were given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 21st. Ferguson's dividend payout ratio is 41.83%.

Insiders Place Their Bets

In other Ferguson news, insider Jake Schlicher sold 5,177 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $230.92, for a total transaction of $1,195,472.84. Following the completion of the sale, the insider directly owned 9,490 shares in the company, valued at $2,191,430.80. The trade was a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

About Ferguson

Ferguson plc NYSE: FERG is a North American distributor of plumbing and heating products, supplying professional customers across the residential, commercial, industrial and infrastructure markets. The company serves contractors, builders, remodelers, municipalities, industrial businesses and other trade professionals through branch locations, distribution centers and digital ordering platforms.

Its product offerings include plumbing supplies and fixtures, heating and cooling equipment, water and wastewater products, fire protection systems, waterworks materials, industrial piping and related maintenance, repair and operating supplies.

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