IFM Investors Pty Ltd Invests $8.80 Million in Ferguson plc (NASDAQ:FERG)

IFM Investors Pty Ltd purchased a new position in shares of Ferguson plc (NASDAQ:FERG) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 44,312 shares of the company’s stock, valued at approximately $8,799,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of Ferguson by 375.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock worth $1,218,032,000 after purchasing an additional 4,966,821 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Ferguson by 589.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock valued at $353,778,000 after acquiring an additional 1,384,570 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Ferguson by 10.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,563,558 shares of the company’s stock valued at $302,781,000 after acquiring an additional 153,757 shares in the last quarter. First Pacific Advisors LP raised its stake in shares of Ferguson by 1.4% in the 2nd quarter. First Pacific Advisors LP now owns 1,104,289 shares of the company’s stock valued at $213,846,000 after acquiring an additional 15,700 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Ferguson by 1.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 967,849 shares of the company’s stock valued at $187,424,000 after acquiring an additional 18,504 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $196.23 on Friday. Ferguson plc has a 1-year low of $147.62 and a 1-year high of $225.63. The firm has a market capitalization of $39.39 billion, a PE ratio of 23.00, a PEG ratio of 3.28 and a beta of 1.20. The business’s 50 day moving average is $200.11 and its 200-day moving average is $204.37. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The company had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. During the same quarter last year, the firm earned $2.77 EPS. Ferguson’s revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts predict that Ferguson plc will post 9.86 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, September 27th. Ferguson’s payout ratio is presently 37.05%.

Analyst Upgrades and Downgrades

FERG has been the topic of a number of recent analyst reports. UBS Group raised their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada raised their price objective on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. Barclays lifted their price target on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Oppenheimer assumed coverage on Ferguson in a research report on Wednesday. They issued an “outperform” rating and a $234.00 price target on the stock. Finally, Citigroup lifted their price target on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $232.50.

Insider Transactions at Ferguson

In related news, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the sale, the senior vice president now owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the sale, the senior vice president now owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Richard Winckler sold 1,325 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.75, for a total value of $267,318.75. Following the completion of the sale, the chief accounting officer now directly owns 1,000 shares in the company, valued at approximately $201,750. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is owned by corporate insiders.

Ferguson Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.