LifeWealth Investments LLC Makes New Investment in Ferguson plc $FERG

Key Points

• LifeWealth Investments LLC has made a new investment in Ferguson plc, purchasing 1,096 shares valued at approximately $239,000 in the second quarter of 2023.
• Insider trading activity includes significant sales, with Ian T. Graham selling 606 shares for about $145,000 and James A. Paisley selling 3,000 shares for approximately $710,000, resulting in notable decreases in their holdings.
• Ferguson plc recently announced a quarterly dividend of $0.83, which will be paid to investors of record on September 26th, reflecting an annualized dividend yield of 1.4%.

LifeWealth Investments LLC purchased a new position in shares of Ferguson plc (NYSE:FERG - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 1,096 shares of the company's stock, valued at approximately $239,000.

Other large investors have also recently bought and sold shares of the company. Hemington Wealth Management grew its holdings in Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the period. Fifth Third Bancorp grew its holdings in Ferguson by 230.8% during the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company's stock worth $37,000 after acquiring an additional 120 shares during the period. Maseco LLP acquired a new stake in Ferguson during the 2nd quarter worth about $40,000. TD Private Client Wealth LLC grew its holdings in Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after acquiring an additional 74 shares during the period. Finally, Brooklyn Investment Group grew its holdings in Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after acquiring an additional 115 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Ian T. Graham sold 606 shares of the company's stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $239.33, for a total value of $145,033.98. Following the sale, the insider owned 7,714 shares in the company, valued at $1,846,191.62. This represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James A. Paisley sold 3,000 shares of the company's stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total transaction 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 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 worth $6,853,349 over the last ninety days. Insiders own 0.18% of the company's stock.

Ferguson Price Performance

FERG opened at $245.38 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $246.65. The firm has a market cap of $48.09 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.98 and a beta of 1.17. The stock has a 50-day simple moving average of $231.74.

Ferguson (NYSE:FERG - Get Free Report) last posted its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, topping 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 company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.44 billion.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued 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 is currently 35.55%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird increased their price target on Ferguson from $260.00 to $262.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Wells Fargo & Company upped their price objective on shares of Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Wednesday, September 17th. Morgan Stanley reiterated an "overweight" rating on shares of Ferguson in a report on Wednesday, September 10th. Truist Financial upped their price objective on shares of Ferguson from $240.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ferguson from $225.00 to $245.00 and gave the company an "overweight" rating in a report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $240.80.

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.

Want to see what other hedge funds are holding FERG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferguson plc (NYSE:FERG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.