2,000 Shares in Ferguson plc (NASDAQ:FERG) Purchased by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC bought a new position in Ferguson plc (NASDAQ:FERG) during the third quarter, Holdings Channel reports. The firm bought 2,000 shares of the company’s stock, valued at approximately $397,000.

A number of other hedge funds also recently made changes to their positions in FERG. Norden Group LLC purchased a new stake in shares of Ferguson in the first quarter worth about $1,675,000. Sequoia Financial Advisors LLC lifted its position in shares of Ferguson by 4.5% in the first quarter. Sequoia Financial Advisors LLC now owns 2,321 shares of the company’s stock worth $507,000 after buying an additional 101 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ferguson by 10.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,757 shares of the company’s stock worth $4,752,000 after buying an additional 2,077 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Ferguson by 14.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,347 shares of the company’s stock worth $1,168,000 after buying an additional 671 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Ferguson by 700.4% in the first quarter. Nordea Investment Management AB now owns 146,281 shares of the company’s stock worth $32,109,000 after buying an additional 128,005 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Trading Up 0.6 %

Shares of FERG traded up $1.24 during mid-day trading on Friday, reaching $197.98. 1,631,771 shares of the company’s stock traded hands, compared to its average volume of 1,395,496. The stock has a market cap of $39.74 billion, a P/E ratio of 23.21, a P/E/G ratio of 1.91 and a beta of 1.20. The stock’s 50-day moving average is $198.83 and its two-hundred day moving average is $203.54. Ferguson plc has a 12 month low of $154.61 and a 12 month high of $225.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. The firm had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.77 earnings per share. Research analysts forecast that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.79 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.60%. Ferguson’s dividend payout ratio (DPR) is currently 37.05%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FERG. Barclays upped their price objective on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Oppenheimer began coverage on Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective on the stock. Robert W. Baird upped their price objective on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Citigroup upped their price objective on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company decreased their price objective on Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $232.50.

Insider Buying and Selling

In related news, CAO Richard Winckler sold 1,325 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.75, for a total value of $267,318.75. Following the transaction, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at $201,750. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Michael Jacobs sold 2,624 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total value of $527,319.04. Following the transaction, the vice president now owns 1,116 shares of the company’s stock, valued at $224,271.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Richard Winckler sold 1,325 shares of the 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 sale, the chief accounting officer now directly owns 1,000 shares in the company, valued at $201,750. This trade 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 valued at $2,477,901 over the last quarter. 0.16% of the stock is owned by corporate insiders.

Ferguson Company 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.