Waverton Investment Management Ltd Boosts Stake in Ferguson plc (NASDAQ:FERG)

Waverton Investment Management Ltd raised its position in Ferguson plc (NASDAQ:FERG) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 878,708 shares of the company’s stock after buying an additional 65,804 shares during the period. Ferguson makes up about 2.9% of Waverton Investment Management Ltd’s holdings, making the stock its 17th biggest holding. Waverton Investment Management Ltd owned approximately 0.44% of Ferguson worth $174,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Bank of New York Mellon Corp raised its stake in shares of Ferguson by 375.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after purchasing an additional 4,966,821 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Ferguson by 589.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock worth $353,778,000 after acquiring an additional 1,384,570 shares during the period. Capital World Investors acquired a new stake in Ferguson during the first quarter worth about $104,723,000. M&G Plc acquired a new stake in Ferguson during the first quarter worth about $57,489,000. Finally, Mackenzie Financial Corp raised its stake in Ferguson by 32.4% during the second quarter. Mackenzie Financial Corp now owns 766,027 shares of the company’s stock worth $148,341,000 after acquiring an additional 187,659 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FERG has been the topic of several research reports. Wells Fargo & Company increased their price objective on shares of Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Jefferies Financial Group raised their price target on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Barclays raised their price target on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Oppenheimer initiated coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective for the company. Finally, Citigroup raised their price objective on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Insider Activity at Ferguson

In related news, insider Ian T. Graham sold 5,778 shares of Ferguson stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.27, for a total value of $1,162,938.06. Following the completion of the sale, the insider now owns 5,938 shares of the company’s stock, valued at approximately $1,195,141.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the sale, the senior vice president now owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ian T. Graham sold 5,778 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the completion of the sale, the insider now directly owns 5,938 shares in the company, valued at approximately $1,195,141.26. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,313 shares of company stock valued at $2,477,901. Insiders own 0.16% of the company’s stock.

Ferguson Trading Up 0.6 %

NASDAQ FERG opened at $208.73 on Tuesday. The firm’s 50 day moving average price is $198.70 and its two-hundred day moving average price is $203.33. The stock has a market cap of $41.90 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.02 and a beta of 1.20. Ferguson plc has a twelve month low of $159.20 and a twelve month high of $225.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The company had revenue of $7.95 billion during the quarter, compared to analyst estimates of $8.01 billion. During the same quarter last year, the business posted $2.77 EPS. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts anticipate that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, September 27th. Ferguson’s payout ratio is presently 37.05%.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.