Drive Wealth Management LLC Takes Position in Ferguson plc $FERG

Drive Wealth Management LLC purchased a new stake in shares of Ferguson plc (NYSE:FERG) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 930 shares of the company’s stock, valued at approximately $203,000.

Other large investors have also recently modified their holdings of the company. TD Private Client Wealth LLC boosted its position in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Hemington Wealth Management boosted its position 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 acquiring an additional 52 shares during the last quarter. Brooklyn Investment Group boosted 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 acquiring an additional 115 shares during the last quarter. Fifth Third Bancorp boosted 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 acquiring an additional 120 shares during the last quarter. Finally, Maseco LLP bought a new stake in Ferguson in the 2nd quarter worth approximately $40,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $244.77 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $246.65. The company has a 50 day moving average of $231.19. The company has a market capitalization of $47.97 billion, a P/E ratio of 26.21, a P/E/G ratio of 1.99 and a beta of 1.17.

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

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be given a $0.83 dividend. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson’s payout ratio is presently 35.55%.

Insider Transactions at Ferguson

In other Ferguson 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 value of $710,910.00. Following the completion of the sale, the insider 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 SEC, which can be accessed through this hyperlink. Also, CFO William Brundage sold 3,000 shares of the business’s 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 transaction, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,264 shares of company stock valued at $6,853,349. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FERG. Wells Fargo & Company boosted their target price on Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 17th. Robert W. Baird boosted their target price on Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Vertical Research began coverage on Ferguson in a research report on Monday. They issued a “buy” rating and a $291.99 target price for the company. UBS Group boosted their target price on Ferguson from $204.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 17th. Finally, Oppenheimer boosted their target price on Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $240.80.

Ferguson 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.