Ethic Inc. Acquires 3,992 Shares of Ferguson plc $FERG

Key Points

• Ethic Inc. increased its stake in Ferguson plc by 23.3%, acquiring an additional 3,992 shares, bringing its total holdings to 21,116 shares valued at approximately $4.6 million.
• Ferguson reported a quarterly earnings per share of $3.48, surpassing consensus estimates of $3.00, with revenues of $8.50 billion in the same period.
• The company recently announced a quarterly dividend of $0.83, reflecting an annualized dividend of $3.32 and a yield of 1.4%, with the payout scheduled for November 7th.

Ethic Inc. raised its position in shares of Ferguson plc (NYSE:FERG - Free Report) by 23.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,116 shares of the company's stock after purchasing an additional 3,992 shares during the period. Ethic Inc.'s holdings in Ferguson were worth $4,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Ferguson by 4.4% during the first quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock valued at $3,071,408,000 after purchasing an additional 806,718 shares during the period. Bank of New York Mellon Corp grew its holdings 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 valued at $1,227,410,000 after purchasing an additional 1,506,024 shares during the period. Invesco Ltd. grew its holdings in Ferguson by 13.8% during the first quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock valued at $1,092,576,000 after purchasing an additional 827,355 shares during the period. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $713,740,000 after purchasing an additional 1,755,464 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its holdings 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 valued at $667,498,000 after purchasing an additional 2,094,029 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Price Performance

NYSE:FERG opened at $245.38 on Friday. The stock has a market capitalization of $48.09 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.98 and a beta of 1.17. The stock's fifty day moving average is $231.74. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $246.65. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

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

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be given a $0.83 dividend. 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 35.55%.

Insider Buying and Selling

In related news, insider Allison Stirrup sold 969 shares of the stock in a transaction on Monday, October 13th. The stock was sold at an average price of $234.23, for a total value of $226,968.87. Following the sale, the insider owned 5,058 shares in the company, valued at approximately $1,184,735.34. This trade represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James A. Paisley sold 3,000 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total value of $710,910.00. Following the completion of the sale, the insider owned 2,211 shares in the company, valued at $523,940.67. This trade represents a 57.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,264 shares of company stock valued at $6,853,349 in the last ninety days. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on FERG. Oppenheimer increased their price objective on Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Royal Bank Of Canada increased their price objective on Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Vertical Research began coverage on Ferguson in a report on Monday. They set a "buy" rating and a $291.99 price objective for the company. JPMorgan Chase & Co. increased their target price on Ferguson from $225.00 to $245.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 15th. Finally, Barclays increased their target price on Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $240.80.

About Ferguson

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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