Ferguson plc (NYSE:FERG) Short Interest Update

Ferguson plc (NYSE:FERG) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 2,300,000 shares, an increase of 43.8% from the September 30th total of 1,600,000 shares. Approximately 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,650,000 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 1,650,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.2% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, CFO William Brundage sold 3,000 shares of Ferguson stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $233.32, for a total value of $699,960.00. Following the sale, the chief financial officer directly owned 52,631 shares in the company, valued at $12,279,864.92. This trade represents a 5.39% 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, CAO Richard Winckler sold 1,034 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $232.70, for a total transaction of $240,611.80. Following the transaction, the chief accounting officer owned 1,458 shares of the company’s stock, valued at $339,276.60. The trade was a 41.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,264 shares of company stock worth $6,853,349 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On Ferguson

Hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its holdings in Ferguson by 24.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company’s stock worth $544,000 after purchasing an additional 657 shares during the period. Teacher Retirement System of Texas increased its position in Ferguson by 1,456.9% in the first quarter. Teacher Retirement System of Texas now owns 29,238 shares of the company’s stock worth $4,685,000 after buying an additional 27,360 shares in the last quarter. OneDigital Investment Advisors LLC increased its position in Ferguson by 30.6% in the first quarter. OneDigital Investment Advisors LLC now owns 4,242 shares of the company’s stock worth $680,000 after buying an additional 995 shares in the last quarter. IFM Investors Pty Ltd raised its stake in shares of Ferguson by 8.2% in the first quarter. IFM Investors Pty Ltd now owns 44,312 shares of the company’s stock worth $7,100,000 after buying an additional 3,361 shares during the period. Finally, TD Private Client Wealth LLC raised its stake in shares of Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock worth $33,000 after buying an additional 74 shares during the period. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of NYSE:FERG opened at $248.59 on Monday. Ferguson has a 52-week low of $146.00 and a 52-week high of $252.52. The stock has a market capitalization of $48.72 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 2.05 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The stock has a 50-day moving average price of $233.81.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.48. The firm had revenue of $8.50 billion for 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 declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, September 26th. Ferguson’s dividend payout ratio (DPR) is currently 35.55%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Ferguson from $260.00 to $262.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Oppenheimer upped their price objective on Ferguson from $235.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. JPMorgan Chase & Co. raised their price objective on Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Barclays boosted their target price on Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Finally, Wall Street Zen upgraded Ferguson from a “hold” rating to a “buy” rating in a research note on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company 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.