Oppenheimer Asset Management Inc. Has $6.32 Million Stake in Ferguson plc (NASDAQ:FERG)

Oppenheimer Asset Management Inc. lifted its stake in shares of Ferguson plc (NASDAQ:FERG) by 40.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,847 shares of the company’s stock after acquiring an additional 9,161 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Ferguson were worth $6,324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Dedication LLC acquired a new position in shares of Ferguson during the third quarter valued at about $27,000. EdgeRock Capital LLC bought a new position in Ferguson in the second quarter worth approximately $32,000. Capital Performance Advisors LLP bought a new position in Ferguson in the third quarter worth approximately $37,000. Reston Wealth Management LLC acquired a new stake in Ferguson in the third quarter valued at approximately $40,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Ferguson during the third quarter valued at approximately $40,000. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Down 1.1 %

FERG stock opened at $203.22 on Friday. Ferguson plc has a 1-year low of $163.03 and a 1-year high of $225.63. The stock has a market cap of $40.79 billion, a P/E ratio of 21.21, a P/E/G ratio of 2.00 and a beta of 1.20. The stock’s fifty day simple moving average is $199.17 and its two-hundred day simple moving average is $203.29. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. The business 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%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.77 earnings per share. 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 of this dividend was Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.55%. Ferguson’s dividend payout ratio (DPR) is presently 37.05%.

Insider Activity at Ferguson

In other news, 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 sale, the chief marketing officer now owns 5,205 shares of the company’s stock, valued at $1,047,246. The trade was a 22.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Michael Jacobs sold 2,624 shares of the company’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 sale, the vice president now owns 1,116 shares in the company, valued at $224,271.36. The trade was a 70.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,313 shares of company stock worth $2,477,901. Insiders own 0.16% of the company’s stock.

Analysts Set New Price Targets

FERG has been the subject of several research reports. Citigroup boosted their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Oppenheimer initiated coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 target price for the company. Royal Bank of Canada lifted their price target on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Wells Fargo & Company increased their price objective on Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their target price on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Ferguson Company 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.