Ferguson plc (NASDAQ:FERG) Shares Sold by Impax Asset Management Group plc

Impax Asset Management Group plc lowered its holdings in shares of Ferguson plc (NASDAQ:FERG) by 64.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,632 shares of the company’s stock after selling 123,875 shares during the period. Impax Asset Management Group plc’s holdings in Ferguson were worth $13,628,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. ING Groep NV acquired a new stake in shares of Ferguson in the 3rd quarter worth $45,850,000. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Ferguson by 4.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,747 shares of the company’s stock worth $1,141,000 after acquiring an additional 239 shares during the period. KBC Group NV lifted its stake in shares of Ferguson by 2.1% in the 3rd quarter. KBC Group NV now owns 120,123 shares of the company’s stock worth $23,853,000 after acquiring an additional 2,458 shares during the period. Huntington National Bank increased its holdings in shares of Ferguson by 10.8% in the 3rd quarter. Huntington National Bank now owns 1,717 shares of the company’s stock valued at $341,000 after purchasing an additional 168 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of Ferguson in the 3rd quarter valued at about $914,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

NASDAQ:FERG opened at $199.84 on Friday. Ferguson plc has a 1-year low of $163.03 and a 1-year high of $225.63. The firm has a 50 day simple moving average of $199.36 and a 200-day simple moving average of $203.19. The firm has a market cap of $40.12 billion, a PE ratio of 23.43, a P/E/G ratio of 1.97 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. Ferguson’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.77 earnings per share. On average, equities analysts expect that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.79 dividend. The ex-dividend date was Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.58%. Ferguson’s dividend payout ratio is presently 37.05%.

Insider Activity at Ferguson

In other Ferguson news, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.20, for a total transaction of $295,361.60. Following the sale, the chief marketing officer now directly owns 5,205 shares of the company’s stock, valued at approximately $1,047,246. This represents a 22.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ian T. Graham sold 5,778 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the sale, the insider now directly owns 5,938 shares in the company, valued at $1,195,141.26. This trade represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,313 shares of company stock valued at $2,477,901 over the last ninety days. Corporate insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FERG shares. UBS Group increased their price target on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Citigroup increased their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Robert W. Baird increased their price target on shares of Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer started coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price for the company. Finally, Barclays raised their target price on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.38.

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.