Ferguson plc (NASDAQ:FERG) Shares Acquired by abrdn plc

abrdn plc raised its stake in shares of Ferguson plc (NASDAQ:FERG) by 11.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 764,391 shares of the company’s stock after purchasing an additional 80,248 shares during the quarter. abrdn plc owned about 0.38% of Ferguson worth $149,935,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FERG. Asset Dedication LLC acquired a new stake in shares of Ferguson in the third quarter worth $27,000. EdgeRock Capital LLC acquired a new stake in shares of Ferguson in the second quarter worth $32,000. Canoe Financial LP acquired a new stake in shares of Ferguson in the third quarter worth $41,000. Versant Capital Management Inc increased its stake in shares of Ferguson by 2,462.5% in the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after acquiring an additional 394 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Ferguson in the second quarter worth $105,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

FERG opened at $197.24 on Tuesday. 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 company has a market cap of $39.59 billion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.91 and a beta of 1.20. Ferguson plc has a 52-week low of $147.62 and a 52-week high of $225.63. The firm’s fifty day simple moving average is $199.92 and its two-hundred day simple moving average is $203.99.

Ferguson (NASDAQ:FERG) last posted its quarterly 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. The firm had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. Ferguson’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.77 earnings per share. Equities analysts anticipate that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 1.60%. Ferguson’s payout ratio is presently 37.05%.

Wall Street Analyst Weigh In

FERG has been the topic of a number of research reports. Oppenheimer initiated coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective on the stock. Barclays increased their price target on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Jefferies Financial Group increased their price target 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 increased their price target on shares of Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, Citigroup increased their price target on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus target price of $232.50.

Insider Buying and Selling

In related news, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the transaction, the senior vice president now owns 1,882 shares in the company, valued at $378,696.04. 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 three months, insiders have sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is owned by 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.