HRT Financial LP Takes $25.06 Million Position in Ferguson plc $FERG

HRT Financial LP purchased a new stake in shares of Ferguson plc (NYSE:FERG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 115,075 shares of the company’s stock, valued at approximately $25,057,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Untitled Investments LP acquired a new position in Ferguson in the 1st quarter worth $5,953,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Ferguson by 11.9% in the 1st 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 buying an additional 205,531 shares during the last quarter. Empowered Funds LLC grew its position in shares of Ferguson by 96.1% in the 1st quarter. Empowered Funds LLC now owns 29,251 shares of the company’s stock valued at $4,687,000 after acquiring an additional 14,338 shares during the period. Nordea Investment Management AB raised its stake in Ferguson by 68.9% in the second quarter. Nordea Investment Management AB now owns 239,783 shares of the company’s stock valued at $52,230,000 after buying an additional 97,791 shares during the period. Finally, ICONIQ Capital LLC acquired a new stake in Ferguson during the 1st quarter valued at $205,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Price Performance

Shares of NYSE FERG opened at $224.24 on Friday. The company’s fifty day moving average price is $242.72. Ferguson plc has a one year low of $146.00 and a one year high of $256.93. 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 market cap of $43.85 billion, a PE ratio of 22.65, a PEG ratio of 2.06 and a beta of 1.17.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. The business had revenue of $8.17 billion for the quarter. Ferguson had a net margin of 6.28% and a return on equity of 36.42%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.45 earnings per share.

Ferguson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. This is a boost from Ferguson’s previous quarterly dividend of $0.83. The ex-dividend date is Friday, January 2nd. Ferguson’s dividend payout ratio is currently 33.54%.

Analyst Ratings Changes

Several research firms recently issued reports on FERG. Sanford C. Bernstein restated an “outperform” rating and issued a $288.00 price target on shares of Ferguson in a research note on Wednesday. Barclays reduced their price target on shares of Ferguson from $273.00 to $267.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Ferguson in a research note on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $243.00 price objective on shares of Ferguson in a report on Wednesday. Finally, JPMorgan Chase & Co. upped 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 research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $250.47.

Insider Buying and Selling at Ferguson

In other news, SVP Jake Schlicher 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 $233.52, for a total value of $700,560.00. Following the completion of the sale, the senior vice president directly owned 11,651 shares in the company, valued at $2,720,741.52. The trade was a 20.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider James A. Paisley sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total value of $710,910.00. Following the sale, the insider owned 2,211 shares of the company’s stock, valued at approximately $523,940.67. This trade represents a 57.57% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 29,264 shares of company stock valued at $6,853,349 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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.