Net Worth Advisory Group Makes New Investment in Ferguson plc (NASDAQ:FERG)

Net Worth Advisory Group purchased a new position in shares of Ferguson plc (NASDAQ:FERG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,481 shares of the company’s stock, valued at approximately $493,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FERG. Daiwa Securities Group Inc. boosted its position in Ferguson by 80.1% during the first quarter. Daiwa Securities Group Inc. now owns 32,811 shares of the company’s stock worth $7,166,000 after acquiring an additional 14,590 shares during the last quarter. CWM LLC increased its stake in Ferguson by 303.7% in the third quarter. CWM LLC now owns 4,550 shares of the company’s stock valued at $904,000 after purchasing an additional 3,423 shares during the last quarter. Meeder Asset Management Inc. increased its position in Ferguson by 14.5% during the first quarter. Meeder Asset Management Inc. now owns 75,505 shares of the company’s stock worth $16,493,000 after purchasing an additional 9,562 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Ferguson during the 2nd quarter worth approximately $2,834,000. Finally, Duality Advisers LP purchased a new position in Ferguson in the 1st quarter worth approximately $5,016,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

FERG stock opened at $204.48 on Friday. Ferguson plc has a one year low of $147.62 and a one year high of $225.63. The firm has a 50-day moving average of $200.77 and a two-hundred day moving average of $205.11. The firm has a market capitalization of $41.05 billion, a PE ratio of 21.10, a P/E/G ratio of 3.42 and a beta of 1.20. 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 issued its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period in the prior year, the company posted $2.77 earnings per share. Ferguson’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts forecast that Ferguson plc will post 9.86 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.55%. Ferguson’s dividend payout ratio (DPR) is currently 37.05%.

Insider Buying and Selling at Ferguson

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the sale, the vice president now directly owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Victoria Morrissey sold 1,468 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the transaction, the chief marketing officer now directly owns 5,205 shares in the company, valued at $1,047,246. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the sale, the vice president now directly owns 1,116 shares of the company’s stock, valued at $224,271.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock worth $2,477,901 over the last 90 days. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Jefferies Financial Group boosted their price objective on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. UBS Group lifted their target price on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Wells Fargo & Company reduced their price objective on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Finally, Robert W. Baird increased their target price on Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $232.29.

About Ferguson

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.