Ferguson plc $FERG Shares Bought by Harbour Investments Inc.

Harbour Investments Inc. raised its position in Ferguson plc (NYSE:FERG) by 61.3% during the 2nd quarter, Holdings Channel.com reports. The firm owned 242 shares of the company’s stock after acquiring an additional 92 shares during the quarter. Harbour Investments Inc.’s holdings in Ferguson were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Untitled Investments LP acquired a new stake in shares of Ferguson in the first quarter valued at approximately $5,953,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Ferguson by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,932,959 shares of the company’s stock valued at $309,718,000 after purchasing an additional 205,531 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Ferguson by 14.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company’s stock valued at $928,000 after purchasing an additional 722 shares during the period. Empowered Funds LLC increased its stake in shares of Ferguson by 96.1% in the first quarter. Empowered Funds LLC now owns 29,251 shares of the company’s stock valued at $4,687,000 after purchasing an additional 14,338 shares during the period. Finally, Fiera Capital Corp increased its stake in shares of Ferguson by 37.5% in the first quarter. Fiera Capital Corp now owns 13,042 shares of the company’s stock valued at $2,090,000 after purchasing an additional 3,559 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Insider Activity

In related news, insider Ian T. Graham sold 606 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $239.33, for a total value of $145,033.98. Following the completion of the transaction, the insider owned 7,714 shares of the company’s stock, valued at approximately $1,846,191.62. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO William Brundage sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $233.32, for a total transaction of $699,960.00. Following the completion of the transaction, the chief financial officer directly owned 52,631 shares of the company’s stock, valued at $12,279,864.92. This represents a 5.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,264 shares of company stock valued at $6,853,349 in the last ninety days. 0.18% of the stock is owned by company insiders.

Ferguson Stock Performance

Shares of NYSE:FERG opened at $249.40 on Friday. The company has a market capitalization of $48.88 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 2.02 and a beta of 1.17. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $251.15. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The business’s 50 day simple moving average is $232.09.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.48. The firm had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, September 26th. Ferguson’s dividend payout ratio (DPR) is presently 35.55%.

Analyst Ratings Changes

FERG has been the topic of several analyst reports. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a research note on Wednesday, September 10th. Wall Street Zen upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a research note on Monday, October 20th. Truist Financial raised their price objective on shares of Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Oppenheimer raised their price objective on shares of Ferguson from $235.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.80.

Ferguson Company Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.