Wolverine Asset Management LLC Invests $2.48 Million in Ferguson plc (NASDAQ:FERG)

Wolverine Asset Management LLC bought a new position in Ferguson plc (NASDAQ:FERG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,500 shares of the company’s stock, valued at approximately $2,482,000.

A number of other institutional investors have also recently bought and sold shares of FERG. Bank of New York Mellon Corp boosted its holdings 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 during the last quarter. Price T Rowe Associates Inc. MD grew its position 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 valued at $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. Waverton Investment Management Ltd raised its holdings 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 worth $157,293,000 after purchasing an additional 308,138 shares during the period. Finally, M&G Plc acquired a new position in shares of Ferguson in the 1st quarter valued at about $57,489,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Ferguson stock opened at $208.73 on Tuesday. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average of $198.70 and a 200-day moving average of $203.33. The stock has a market cap of $41.90 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. Ferguson plc has a 52 week low of $159.20 and a 52 week high of $225.63.

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

Ferguson Dividend Announcement

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

Insider Activity

In related news, VP Michael Jacobs sold 2,624 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the sale, the vice president now owns 1,116 shares in the company, valued at $224,271.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Michael Jacobs sold 2,624 shares of the 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 sale, the vice president now directly owns 1,116 shares in the company, valued at approximately $224,271.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the transaction, the chief marketing officer now owns 5,205 shares of the company’s stock, valued at $1,047,246. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 12,313 shares of company stock valued at $2,477,901. Company insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Barclays increased their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Royal Bank of Canada lifted their target price on shares of Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. UBS Group increased their price target on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Oppenheimer began coverage on Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective on the stock. Finally, Robert W. Baird increased their target price on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Ferguson currently 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.