Ferguson (NYSE:FERG) COO Sells $772,200.00 in Stock

Key Points

• Ferguson COO William Thees Jr. sold 3,510 shares at an average price of $220, generating $772,200. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 9.7% to 32,680 shares.
• Ferguson shares recently traded at $222.95, near the lower end of their 52-week range. The company’s latest earnings beat estimates, reporting quarterly EPS of $3.39 versus a $3.23 consensus and revenue of $8.75 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $283.07, while Ferguson pays a quarterly dividend of $0.89 per share, yielding approximately 1.6% annually.

Ferguson plc (NYSE:FERG - Get Free Report) COO William Thees, Jr. sold 3,510 shares of the firm's stock in a transaction on Monday, October 12th. The stock was sold at an average price of $220.00, for a total value of $772,200.00. Following the sale, the chief operating officer owned 32,680 shares in the company, valued at $7,189,600. This trade represents a 9.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ferguson Trading Up 0.0%

Ferguson stock traded up $0.09 during trading on Wednesday, hitting $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 stock has a market capitalization 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 stock's fifty day moving average is $229.67 and its 200 day moving average is $234.51. Ferguson plc has a 1-year low of $212.13 and a 1-year high of $271.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73.

Ferguson (NYSE:FERG - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, topping 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 firm had revenue of $8.75 billion for the quarter. As a group, equities research analysts predict that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Ferguson from $285.00 to $295.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Zelman & Associates upgraded shares of Ferguson from a "hold" rating to an "outperform" rating and set a $285.00 target price for the company in a report on Friday, July 17th. UBS Group upped their price target on shares of Ferguson from $252.00 to $256.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group downgraded shares of Ferguson from a "buy" rating to a "neutral" rating and cut their price target for the stock from $315.00 to $265.00 in a research note on Monday, July 6th. Finally, Jefferies Financial Group set a $295.00 price target on shares of Ferguson in a report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Ferguson presently has a consensus rating of "Moderate Buy" and a consensus target price of $283.07.

Hedge Funds Weigh In On Ferguson

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wedbush Securities Inc. boosted its position in Ferguson by 4.3% in the 2nd quarter. Wedbush Securities Inc. now owns 1,197 shares of the company's stock valued at $284,000 after buying an additional 49 shares during the last quarter. L2 Asset Management LLC raised its position in shares of Ferguson by 5.2% in the 2nd quarter. L2 Asset Management LLC now owns 1,109 shares of the company's stock valued at $263,000 after acquiring an additional 55 shares during the period. Cidel Asset Management Inc. grew its holdings in shares of Ferguson by 3.8% in the 2nd quarter. Cidel Asset Management Inc. now owns 1,541 shares of the company's stock valued at $366,000 after buying an additional 56 shares during the period. Natural Investments LLC lifted its holdings in shares of Ferguson by 6.9% during the 2nd quarter. Natural Investments LLC now owns 944 shares of the company's stock valued at $224,000 after purchasing an additional 61 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in Ferguson by 26.1% during the 3rd 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. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.