Impax Asset Management Group plc Sells 123,875 Shares of Ferguson plc (NASDAQ:FERG)

Impax Asset Management Group plc decreased its position in Ferguson plc (NASDAQ:FERG) by 64.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,632 shares of the company’s stock after selling 123,875 shares during the quarter. Impax Asset Management Group plc’s holdings in Ferguson were worth $13,628,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FERG. Bank of New York Mellon Corp grew its holdings in shares of Ferguson by 375.4% in the second quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after acquiring an additional 4,966,821 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 purchasing an additional 1,384,570 shares during the period. Capital World Investors purchased a new stake in shares of Ferguson during the 1st quarter valued at $104,723,000. Waverton Investment Management Ltd raised its stake in shares of Ferguson by 61.0% during the 2nd quarter. Waverton Investment Management Ltd now owns 812,904 shares of the company’s stock worth $157,293,000 after purchasing an additional 308,138 shares during the period. Finally, M&G Plc purchased a new position in shares of Ferguson in the 1st quarter worth about $57,489,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Royal Bank of Canada lifted their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Citigroup raised their target price on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Robert W. Baird upped their price target on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company decreased their price objective on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $232.50.

Insider Activity at Ferguson

In other Ferguson news, insider Ian T. Graham sold 5,778 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.27, for a total value of $1,162,938.06. Following the transaction, the insider now directly owns 5,938 shares in the company, valued at $1,195,141.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Michael Jacobs sold 2,624 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the transaction, the vice president now directly owns 1,116 shares in the company, valued at approximately $224,271.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ian T. Graham sold 5,778 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the transaction, the insider now owns 5,938 shares in the company, valued at $1,195,141.26. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,313 shares of company stock valued at $2,477,901. Company insiders own 0.16% of the company’s stock.

Ferguson Stock Up 2.0 %

FERG stock opened at $202.09 on Wednesday. Ferguson plc has a twelve month low of $154.61 and a twelve month high of $225.63. The firm has a market capitalization of $40.57 billion, a PE ratio of 20.45, a PEG ratio of 1.93 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The stock has a 50-day simple moving average of $198.48 and a two-hundred day simple moving average of $203.41.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share 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 business had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. During the same quarter in the prior year, the firm posted $2.77 EPS. Ferguson’s revenue was up 1.4% on a year-over-year basis. On average, equities analysts predict that Ferguson plc will post 9.77 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a $0.79 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.56%. Ferguson’s dividend payout ratio (DPR) is presently 37.05%.

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.