Ferguson (NYSE:FERG) CFO Sells 5,986 Shares of Company Stock

Key Points

• Ferguson CFO William Brundage sold 5,986 shares at an average price of $218.74, generating approximately $1.31 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan, leaving him with 54,908 shares.
• Ferguson shares were trading at $222.95, near the lower end of their 12-month range of $212.13 to $271.64. The company recently reported quarterly EPS of $3.39, beating analyst expectations of $3.23.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $283.07. Ferguson also pays a quarterly dividend of $0.89 per share, representing a 1.6% annualized yield.

Ferguson plc (NYSE:FERG - Get Free Report) CFO William Brundage sold 5,986 shares of Ferguson stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $218.74, for a total value of $1,309,377.64. Following the sale, the chief financial officer owned 54,908 shares in the company, valued at $12,010,575.92. This represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ferguson Stock Up 0.0%

Shares of FERG traded up $0.09 during trading on Wednesday, reaching $222.95. The company's stock had a trading volume of 1,358,631 shares, compared to its average volume of 1,685,467. The company has a fifty day moving average of $229.67 and a two-hundred day moving average of $234.51. Ferguson plc has a twelve month low of $212.13 and a twelve month high of $271.64. The company has a market cap of $43.13 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 1.59 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 (NYSE:FERG - Get Free Report) last released its 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. On average, sell-side analysts predict that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st were paid 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 was Friday, August 21st. Ferguson's dividend payout ratio is 41.83%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FERG. Weiss Ratings restated a "hold (c+)" rating on shares of Ferguson in a research note on Tuesday, September 29th. Jefferies Financial Group set a $295.00 price target on Ferguson in a research note on Thursday, September 3rd. Wells Fargo & Company boosted their price objective on Ferguson from $285.00 to $295.00 and gave the company an "overweight" rating in a report on Tuesday, August 11th. UBS Group upped their price objective on Ferguson from $252.00 to $256.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Finally, Zelman & Associates raised Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 target price on the stock in a report on Friday, July 17th. Two investment 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $283.07.

Hedge Funds Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Compass Financial Management LLC acquired a new stake in shares of Ferguson during the 2nd quarter worth approximately $32,000. Eastern Bank acquired a new position in Ferguson during the 2nd quarter valued at approximately $42,000. Vega Investment Solutions boosted its position in Ferguson by 50.5% during the 2nd quarter. Vega Investment Solutions now owns 277 shares of the company's stock valued at $66,000 after purchasing an additional 93 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Ferguson by 26.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 300 shares of the company's stock valued at $67,000 after purchasing an additional 62 shares during the period. Finally, Keating Financial Advisory Services Inc. grew its stake in Ferguson by 93.5% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 296 shares of the company's stock worth $70,000 after buying an additional 143 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

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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