Frank Rimerman Advisors LLC Boosts Stake in Ferguson plc (NASDAQ:FERG)

Frank Rimerman Advisors LLC grew its stake in shares of Ferguson plc (NASDAQ:FERG) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,307 shares of the company’s stock after buying an additional 57 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Ferguson were worth $657,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FERG. Asset Dedication LLC purchased a new position in Ferguson in the 3rd quarter worth $27,000. EdgeRock Capital LLC purchased a new position in Ferguson in the 2nd quarter worth $32,000. Versant Capital Management Inc raised its position in Ferguson by 2,462.5% in the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after purchasing an additional 394 shares during the period. Opal Wealth Advisors LLC purchased a new position in Ferguson in the 2nd quarter worth $105,000. Finally, Triad Wealth Partners LLC bought a new stake in Ferguson in the 2nd quarter worth $126,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Insiders Place Their Bets

In other news, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now directly owns 1,116 shares of the company’s stock, valued at $224,271.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now directly owns 1,116 shares of the company’s stock, valued at $224,271.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 5,938 shares of the company’s stock, valued at $1,195,141.26. 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 ninety days, insiders sold 12,313 shares of company stock valued at $2,477,901. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FERG. Royal Bank of Canada raised their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. UBS Group raised their price target on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Oppenheimer began coverage on shares of Ferguson in a report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target on the stock. Citigroup raised their price target on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Finally, Barclays lifted their target price 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $232.50.

Ferguson Trading Down 1.1 %

NASDAQ:FERG opened at $196.23 on Monday. Ferguson plc has a one year low of $147.62 and a one year high of $225.63. 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 company’s 50-day simple moving average is $200.11 and its 200 day simple moving average is $204.14. The firm has a market capitalization of $39.39 billion, a P/E ratio of 23.00, a PEG ratio of 1.91 and a beta of 1.20.

Ferguson (NASDAQ:FERG) last issued its earnings results 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 business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.77 earnings per share. As a group, analysts forecast that Ferguson plc will post 9.77 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a $0.79 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.61%. Ferguson’s dividend payout ratio (DPR) is presently 37.05%.

Ferguson Profile

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.