Ferguson plc $FERG Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd decreased its position in shares of Ferguson plc (NYSE:FERG) by 8.4% during the second quarter, Holdings Channel.com reports. The firm owned 4,220 shares of the company’s stock after selling 389 shares during the period. Plato Investment Management Ltd’s holdings in Ferguson were worth $916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in FERG. Cambridge Investment Research Advisors Inc. grew its stake in shares of Ferguson by 24.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company’s stock worth $544,000 after purchasing an additional 657 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Ferguson by 1,456.9% during the 1st quarter. Teacher Retirement System of Texas now owns 29,238 shares of the company’s stock worth $4,685,000 after purchasing an additional 27,360 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Ferguson by 30.6% during the 1st quarter. OneDigital Investment Advisors LLC now owns 4,242 shares of the company’s stock worth $680,000 after purchasing an additional 995 shares during the period. IFM Investors Pty Ltd grew its stake in shares of Ferguson by 8.2% during the 1st quarter. IFM Investors Pty Ltd now owns 44,312 shares of the company’s stock worth $7,100,000 after purchasing an additional 3,361 shares during the period. Finally, TD Private Client Wealth LLC grew its stake in shares of 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 purchasing an additional 74 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Insider Buying and Selling

In other Ferguson news, insider James A. Paisley sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total value of $710,910.00. Following the transaction, the insider owned 2,211 shares in the company, valued at approximately $523,940.67. This trade represents a 57.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $699,960.00. Following the completion of the transaction, the chief financial officer owned 52,631 shares in the company, valued at $12,279,864.92. The trade was a 5.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,264 shares of company stock worth $6,853,349 in the last ninety days. Company insiders own 0.18% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $248.59 on Monday. The company has a fifty day moving average price of $233.81. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The stock has a market cap of $48.72 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 2.05 and a beta of 1.17. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $252.52.

Ferguson (NYSE:FERG) last announced 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. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.44 billion. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be issued a $0.83 dividend. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FERG shares. Vertical Research started coverage on shares of Ferguson in a research note on Monday, October 20th. They issued a “buy” rating and a $291.99 price target on the stock. Zacks Research raised shares of Ferguson to a “hold” rating in a research note on Friday, August 8th. Robert W. Baird lifted their price target on shares of Ferguson from $260.00 to $262.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Truist Financial lifted their price target on shares of Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. 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 stock. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $240.80.

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.