Rehmann Capital Advisory Group Acquires Shares of 1,300 Ferguson plc $FERG

Key Points

• Rehmann Capital Advisory Group acquired 1,300 shares of Ferguson plc, valued at approximately $283,000, during the 2nd quarter of the year, highlighting ongoing institutional investment in the company.
• Ferguson reported a quarterly earnings per share of $3.48, which exceeded analysts' expectations, alongside revenue of $8.50 billion for the quarter.
• The company announced a quarterly dividend of $0.83 per share, representing an annualized yield of 1.3% and a payout ratio of 35.55%.

Rehmann Capital Advisory Group acquired a new stake in Ferguson plc (NYSE:FERG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,300 shares of the company's stock, valued at approximately $283,000.

Several other hedge funds also recently bought and sold shares of the business. D.A. Davidson & CO. grew its position in Ferguson by 497.2% in the 2nd quarter. D.A. Davidson & CO. now owns 17,067 shares of the company's stock valued at $3,716,000 after acquiring an additional 14,209 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in Ferguson by 1,588.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 304 shares of the company's stock valued at $66,000 after acquiring an additional 286 shares during the last quarter. Drive Wealth Management LLC bought a new position in Ferguson in the 2nd quarter valued at $203,000. Stephens Inc. AR grew its position in Ferguson by 16.6% in the 2nd quarter. Stephens Inc. AR now owns 1,973 shares of the company's stock valued at $430,000 after acquiring an additional 281 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new position in Ferguson in the 2nd quarter valued at $260,000. Institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of FERG stock opened at $249.40 on Friday. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $251.15. The company's 50-day moving average is $232.09. The company has a market capitalization of $48.88 billion, a P/E ratio of 26.70, a P/E/G ratio of 2.02 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Ferguson (NYSE:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, beating 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 Announces Dividend

The business 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 dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a yield of 1.3%. Ferguson's dividend payout ratio (DPR) is presently 35.55%.

Wall Street Analyst Weigh In

Several equities analysts have commented on FERG shares. UBS Group upped their price objective on Ferguson from $204.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday, September 17th. Royal Bank Of Canada increased their price target on Ferguson from $231.00 to $243.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Wall Street Zen raised Ferguson from a "hold" rating to a "buy" rating in a research report on Monday, October 20th. JPMorgan Chase & Co. increased their price target 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 price target on Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $240.80.

Insider Activity at Ferguson

In other Ferguson news, CAO Richard Winckler sold 1,034 shares of the firm's stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $232.70, for a total value of $240,611.80. Following the completion of the sale, the chief accounting officer owned 1,458 shares of the company's stock, valued at approximately $339,276.60. This trade represents a 41.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ian T. Graham sold 606 shares of the firm's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $239.33, for a total value of $145,033.98. Following the completion of the sale, the insider directly owned 7,714 shares of the company's stock, valued at approximately $1,846,191.62. This represents a 7.28% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,264 shares of company stock valued at $6,853,349 over the last 90 days. Company insiders own 0.18% of the company's stock.

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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