Ferguson plc $FERG Shares Purchased by Korea Investment CORP

Korea Investment CORP increased its holdings in shares of Ferguson plc (NYSE:FERG) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,092 shares of the company’s stock after buying an additional 9,961 shares during the quarter. Korea Investment CORP owned about 0.09% of Ferguson worth $39,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FERG. True Wealth Design LLC lifted its holdings in shares of Ferguson by 145.3% during the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after acquiring an additional 77 shares during the period. Hemington Wealth Management raised its stake in Ferguson by 51.5% during 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 period. Fifth Third Bancorp boosted its holdings in shares of Ferguson by 230.8% in 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. Maseco LLP acquired a new position in shares of Ferguson in the 2nd quarter valued at $40,000. Finally, Brooklyn Investment Group grew its stake 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 buying an additional 115 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Wells Fargo & Company increased 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. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a report on Wednesday, September 10th. Wall Street Zen raised Ferguson from a “hold” rating to a “buy” rating in a research note on Monday, October 20th. Oppenheimer increased their target price on shares of Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Finally, UBS Group raised their price target on shares of Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $243.75.

Ferguson Stock Up 2.0%

NYSE FERG opened at $253.00 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $256.93. The business has a 50 day moving average of $239.70. The stock has a market cap of $49.58 billion, a PE ratio of 27.09, a PEG ratio of 2.05 and a beta of 1.18.

Ferguson (NYSE:FERG) last posted its earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.48. The business 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, September 26th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 26th. Ferguson’s dividend payout ratio is presently 35.55%.

Insider Activity at Ferguson

In other news, insider Allison Stirrup sold 969 shares of Ferguson stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $234.23, for a total transaction of $226,968.87. Following the sale, the insider directly owned 5,058 shares of the company’s stock, valued at approximately $1,184,735.34. The trade was a 16.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Richard Winckler sold 1,034 shares of the business’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $232.70, for a total value of $240,611.80. Following the completion of the transaction, the chief accounting officer owned 1,458 shares in the company, valued at approximately $339,276.60. This trade represents a 41.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 29,264 shares of company stock valued at $6,853,349. 0.18% of the stock is currently owned by insiders.

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.