Ferguson plc (NYSE:FERG) Short Interest Update

Ferguson plc (NYSE:FERG) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 2,300,000 shares, a growth of 43.8% from the September 30th total of 1,600,000 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily trading volume, of 1,650,000 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 1,650,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.2% of the company’s stock are short sold.

Insider Buying and Selling at Ferguson

In related news, insider Kevin Michael Murphy sold 8,800 shares of the business’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $234.13, for a total transaction of $2,060,344.00. Following the transaction, the insider directly owned 159,931 shares in the company, valued at approximately $37,444,645.03. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William Brundage sold 3,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 52,631 shares in the company, valued at approximately $12,279,864.92. This trade represents a 5.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 29,264 shares of company stock valued at $6,853,349 in the last quarter. 0.18% of the stock is owned by company insiders.

Institutional Trading of Ferguson

A number of hedge funds and other institutional investors have recently modified their holdings of FERG. Cornerstone Planning Group LLC boosted its holdings in shares of Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Ferguson by 145.3% in the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 77 shares during the period. Hemington Wealth Management increased its position in shares of Ferguson by 51.5% in the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after buying an additional 52 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $37,000 after buying an additional 120 shares in the last quarter. Finally, Maseco LLP bought a new position in Ferguson during the 2nd quarter worth about $40,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 1.0%

FERG stock traded down $2.54 on Tuesday, reaching $245.02. 1,031,068 shares of the company’s stock were exchanged, compared to its average volume of 1,738,072. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The company has a market cap of $48.02 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 2.05 and a beta of 1.17. Ferguson has a twelve month low of $146.00 and a twelve month high of $252.52. The company has a fifty day moving average of $234.12.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.48. The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.44 billion. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson’s payout ratio is presently 35.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on FERG shares. Royal Bank Of Canada lifted their price objective on shares of Ferguson from $231.00 to $243.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Wall Street Zen upgraded Ferguson from a “hold” rating to a “buy” rating in a report on Monday, October 20th. Oppenheimer boosted their price target on Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Robert W. Baird upped their target price on Ferguson from $260.00 to $262.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. upped their price objective on Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $240.80.

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.