Short Interest in Ferguson plc (NYSE:FERG) Rises By 43.8%

Ferguson plc (NYSE:FERG) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 2,300,000 shares, a growth of 43.8% from the September 30th total of 1,600,000 shares. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is currently 1.4 days. Approximately 1.2% of the shares of the stock are sold short. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is currently 1.4 days.

Insider Activity at Ferguson

In related news, insider Ian T. Graham sold 4,864 shares of the company’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $233.22, for a total value of $1,134,382.08. Following the completion of the transaction, the insider owned 7,769 shares of the company’s stock, valued at approximately $1,811,886.18. This represents a 38.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO William Brundage sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $233.32, for a total value of $699,960.00. Following the sale, the chief financial officer directly owned 52,631 shares in the company, valued at approximately $12,279,864.92. This represents a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 29,264 shares of company stock worth $6,853,349 in the last 90 days. Company insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Ferguson

A number of hedge funds and other institutional investors have recently modified their holdings of FERG. Vanguard Group Inc. raised its position in shares of Ferguson by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,341,871 shares of the company’s stock worth $4,211,692,000 after acquiring an additional 173,128 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Ferguson by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 7,687,611 shares of the company’s stock valued at $1,673,977,000 after purchasing an additional 27,312 shares in the last quarter. Invesco Ltd. boosted its position in Ferguson by 13.8% during the first quarter. Invesco Ltd. now owns 6,818,800 shares of the company’s stock valued at $1,092,576,000 after purchasing an additional 827,355 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Ferguson by 65.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company’s stock valued at $713,740,000 after purchasing an additional 1,755,464 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in Ferguson by 39.3% in the second quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock valued at $926,830,000 after purchasing an additional 1,201,493 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Up 1.1%

FERG stock opened at $248.59 on Monday. 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 has a twelve month low of $146.00 and a twelve month high of $252.52. The company has a market capitalization of $48.72 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 2.05 and a beta of 1.17. The company’s fifty day moving average price is $233.81.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) 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 business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.44 billion.

Ferguson Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FERG. UBS Group increased their price objective on shares of Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, September 17th. Truist Financial upped their target price on shares of Ferguson from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a report on Wednesday, September 10th. Barclays boosted their price target on shares of Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Finally, Zacks Research upgraded Ferguson to a “hold” rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and an average price target of $240.80.

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.