Canal Capital Management LLC Acquires 1,817 Shares of Ferguson plc (NASDAQ:FERG)

Canal Capital Management LLC boosted its holdings in shares of Ferguson plc (NASDAQ:FERG) by 5.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 37,352 shares of the company’s stock after acquiring an additional 1,817 shares during the period. Ferguson accounts for 1.2% of Canal Capital Management LLC’s portfolio, making the stock its 27th largest position. Canal Capital Management LLC’s holdings in Ferguson were worth $7,417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FERG. OneAscent Financial Services LLC grew its stake in shares of Ferguson by 1.9% during the first quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock worth $565,000 after purchasing an additional 49 shares during the period. Perigon Wealth Management LLC grew its position in shares of Ferguson by 3.6% during the 1st quarter. Perigon Wealth Management LLC now owns 1,568 shares of the company’s stock worth $342,000 after buying an additional 55 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Ferguson by 1.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 3,142 shares of the company’s stock valued at $686,000 after acquiring an additional 57 shares during the last quarter. Transatlantique Private Wealth LLC raised its position in shares of Ferguson by 3.0% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock valued at $394,000 after acquiring an additional 60 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Ferguson by 3.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,130 shares of the company’s stock valued at $412,000 after acquiring an additional 78 shares during the period. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of Ferguson stock opened at $198.04 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The firm has a market cap of $39.75 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 3.28 and a beta of 1.20. The stock’s 50-day moving average is $200.30 and its 200-day moving average is $204.56. Ferguson plc has a one year low of $147.62 and a one year high of $225.63.

Ferguson (NASDAQ:FERG) last announced 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 return on equity of 36.53% and a net margin of 5.85%. The business had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. During the same quarter last year, the firm earned $2.77 EPS. Ferguson’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts predict that Ferguson plc will post 9.86 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Friday, September 27th. Ferguson’s dividend payout ratio is presently 37.05%.

Analyst Ratings Changes

FERG has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Robert W. Baird upped their price objective on shares of Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Oppenheimer initiated coverage on Ferguson in a research note on Wednesday. They set an “outperform” rating and a $234.00 price objective on the stock. Royal Bank of Canada boosted their target price on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Finally, Citigroup raised their price target on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $232.50.

Insider Buying and Selling

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the sale, the vice president now directly owns 1,116 shares in the company, valued at approximately $224,271.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the transaction, the vice president now owns 1,116 shares of the company’s stock, valued at $224,271.36. 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 available through this link. Also, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the sale, the chief marketing officer now directly owns 5,205 shares of the company’s stock, valued at approximately $1,047,246. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is owned by insiders.

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.