Ferguson plc (NASDAQ:FERG) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd cut its holdings in shares of Ferguson plc (NASDAQ:FERG) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,163 shares of the company’s stock after selling 724 shares during the period. Gulf International Bank UK Ltd’s holdings in Ferguson were worth $3,209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FERG. Bank of New York Mellon Corp increased its position in Ferguson by 375.4% during 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 buying an additional 4,966,821 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $353,778,000 after acquiring an additional 1,384,570 shares in the last quarter. Capital World Investors acquired a new position in shares of Ferguson during the first quarter valued at about $104,723,000. Waverton Investment Management Ltd raised its position in shares of Ferguson by 61.0% in the 2nd quarter. Waverton Investment Management Ltd now owns 812,904 shares of the company’s stock valued at $157,293,000 after purchasing an additional 308,138 shares during the last quarter. Finally, M&G Plc purchased a new stake in Ferguson during the 1st quarter worth approximately $57,489,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Richard Winckler sold 1,325 shares of Ferguson stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.75, for a total value of $267,318.75. Following the completion of the transaction, the chief accounting officer now owns 1,000 shares in the company, valued at $201,750. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ferguson news, insider Ian T. Graham sold 5,778 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 5,938 shares in the company, valued at approximately $1,195,141.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Richard Winckler sold 1,325 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the transaction, the chief accounting officer now directly owns 1,000 shares in the company, valued at approximately $201,750. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,313 shares of company stock worth $2,477,901. Company insiders own 0.16% of the company’s stock.

Ferguson Stock Up 2.0 %

Ferguson stock opened at $202.09 on Wednesday. The business’s 50-day moving average price is $198.48 and its 200 day moving average price is $203.41. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The firm has a market cap of $40.57 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 1.93 and a beta of 1.20. Ferguson plc has a 52 week low of $154.61 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping 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 business had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter last year, the company earned $2.77 EPS. The business’s revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.79 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.56%. Ferguson’s dividend payout ratio (DPR) is currently 37.05%.

Wall Street Analyst Weigh In

FERG has been the subject of a number of research analyst reports. Robert W. Baird raised their price target on shares of Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Barclays raised their target price on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Wells Fargo & Company dropped their price target on Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Royal Bank of Canada increased their price objective on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Finally, Citigroup lifted their target price on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average target price of $232.50.

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.