Westpac Banking Corp Increases Holdings in Ferguson plc $FERG

Westpac Banking Corp lifted its position in Ferguson plc (NYSE:FERG) by 260.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,176 shares of the company’s stock after purchasing an additional 1,572 shares during the period. Westpac Banking Corp’s holdings in Ferguson were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of FERG. True Wealth Design LLC increased its position in Ferguson by 145.3% during the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 77 shares during the last quarter. Hemington Wealth Management grew its stake in shares of Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the period. Brooklyn Investment Group increased its position in shares of Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock valued at $36,000 after purchasing an additional 115 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Ferguson by 230.8% during the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $37,000 after purchasing an additional 120 shares during the last quarter. Finally, Maseco LLP bought a new position in shares of Ferguson in the 2nd quarter worth approximately $40,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

FERG opened at $235.57 on Tuesday. The stock has a 50 day moving average price of $236.76. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $46.17 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 2.05 and a beta of 1.18. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $256.93.

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

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, September 26th were paid a $0.83 dividend. The ex-dividend date of this dividend was Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s dividend payout ratio is 35.55%.

Insider Activity

In other Ferguson news, insider James A. Paisley sold 3,000 shares of the stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total transaction of $710,910.00. Following the completion of the sale, the insider directly owned 2,211 shares of the company’s stock, valued at $523,940.67. This trade represents a 57.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Allison Stirrup sold 969 shares of Ferguson stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $234.23, for a total transaction of $226,968.87. Following the sale, the insider owned 5,058 shares in the company, valued at approximately $1,184,735.34. The trade was a 16.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,264 shares of company stock valued at $6,853,349 in the last three months. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on FERG shares. Sanford C. Bernstein assumed coverage on shares of Ferguson in a research report on Wednesday, November 12th. They set an “outperform” rating and a $288.00 target price for the company. Robert W. Baird lifted their price target on shares of Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Zacks Research raised shares of Ferguson to a “hold” rating in a research report on Friday, August 8th. Wells Fargo & Company raised their target price on Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.75.

About Ferguson

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.