Chicago Partners Investment Group LLC Invests $260,000 in Ferguson plc $FERG

Chicago Partners Investment Group LLC acquired a new position in Ferguson plc (NYSE:FERG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,143 shares of the company’s stock, valued at approximately $260,000.

Several other institutional investors have also recently modified their holdings of FERG. 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 purchasing an additional 74 shares during the last quarter. Hemington Wealth Management raised its stake in shares of Ferguson by 51.5% in the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock worth $36,000 after purchasing an additional 115 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Ferguson by 230.8% in the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after purchasing an additional 120 shares during the last quarter. Finally, Maseco LLP purchased a new position in shares of Ferguson in the second quarter worth about $40,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Ferguson from $250.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price target on Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. Truist Financial lifted their price target on Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research report on Wednesday, October 8th. Finally, Oppenheimer lifted their price target on Ferguson from $235.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $240.80.

Ferguson Price Performance

Ferguson stock opened at $249.40 on Friday. The stock has a market capitalization of $48.88 billion, a PE ratio of 26.70, a PEG ratio of 2.02 and a beta of 1.17. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $251.15. The firm has a 50 day simple moving average of $232.09. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94.

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

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be given 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 payout ratio is presently 35.55%.

Insider Activity

In related news, insider James A. Paisley sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The stock was 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 in the company, valued at approximately $523,940.67. The trade was a 57.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ian T. Graham sold 606 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $239.33, for a total value of $145,033.98. Following the sale, the insider owned 7,714 shares of the company’s stock, valued at $1,846,191.62. The trade was a 7.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,264 shares of company stock valued at $6,853,349 in the last three months. Company 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.