Insider Selling: Ferguson (NYSE:FERG) CFO Sells 3,000 Shares of Stock

Key Points

• Ferguson CFO William Brundage sold 3,000 shares of stock at an average price of $233.32, totaling $699,960, which represents a 5.39% decrease in his holdings.
• The company recently reported $3.48 earnings per share for its last quarter, exceeding analysts' estimates of $3.00, with revenue of $8.50 billion.
• Ferguson declared a quarterly dividend of $0.83 per share, which will be paid on November 7th, reflecting a 1.4% dividend yield on an annualized basis.

Ferguson plc (NYSE:FERG - Get Free Report) CFO William Brundage sold 3,000 shares of the firm's stock in a transaction on Monday, October 13th. The shares were sold at an average price of $233.32, for a total transaction of $699,960.00. Following the completion of the transaction, the chief financial officer directly owned 52,631 shares of the company's stock, valued at approximately $12,279,864.92. This trade represents a 5.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Ferguson Stock Performance

Ferguson stock traded down $3.34 during mid-day trading on Wednesday, reaching $237.08. The company's stock had a trading volume of 557,061 shares, compared to its average volume of 1,754,202. The stock has a market cap of $46.50 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 1.93 and a beta of 1.17. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $243.40. The firm's 50 day simple moving average is $229.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94.

Ferguson (NYSE:FERG - Get Free Report) last released its earnings results 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. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders 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 of this dividend is Friday, September 26th. Ferguson's dividend payout ratio (DPR) is 35.55%.

Institutional Trading of Ferguson

Hedge funds and other institutional investors have recently bought and sold shares of the business. Untitled Investments LP acquired a new stake in Ferguson in the 1st quarter worth about $5,953,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Ferguson by 11.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,932,959 shares of the company's stock valued at $309,718,000 after buying an additional 205,531 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Ferguson by 14.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock valued at $928,000 after buying an additional 722 shares during the period. Empowered Funds LLC increased its holdings in Ferguson by 96.1% in the 1st quarter. Empowered Funds LLC now owns 29,251 shares of the company's stock valued at $4,687,000 after buying an additional 14,338 shares during the period. Finally, Fiera Capital Corp increased its holdings in Ferguson by 37.5% in the 1st quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock valued at $2,090,000 after buying an additional 3,559 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Analyst Ratings Changes

FERG has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on shares of Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Wells Fargo & Company lifted their price objective on shares of Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Wednesday, September 17th. Zacks Research raised shares of Ferguson to a "hold" rating in a research report on Friday, August 8th. Oppenheimer lifted their price objective on shares of Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Finally, Truist Financial lifted their price objective on shares of Ferguson from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $237.14.

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.

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