Aigen Investment Management LP Invests $2.53 Million in Ferguson plc (NASDAQ:FERG)

Aigen Investment Management LP purchased a new stake in shares of Ferguson plc (NASDAQ:FERG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,730 shares of the company’s stock, valued at approximately $2,528,000.

Several other institutional investors also recently bought and sold shares of FERG. Bank of New York Mellon Corp grew its holdings in 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 purchasing an additional 4,966,821 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Ferguson by 589.0% in the first 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 acquired a new stake in Ferguson in the first quarter valued at approximately $104,723,000. Waverton Investment Management Ltd grew its holdings in Ferguson by 61.0% in the second quarter. Waverton Investment Management Ltd now owns 812,904 shares of the company’s stock valued at $157,293,000 after purchasing an additional 308,138 shares during the period. Finally, M&G Plc acquired a new stake in Ferguson in the first quarter valued at approximately $57,489,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Trading Up 0.1 %

NASDAQ FERG traded up $0.15 on Tuesday, reaching $208.84. 202,334 shares of the company were exchanged, compared to its average volume of 1,265,222. The business’s fifty day moving average price is $198.70 and its 200 day moving average price is $203.33. The stock has a market capitalization of $41.92 billion, a P/E ratio of 24.47, a price-to-earnings-growth ratio of 2.02 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 plc has a fifty-two week low of $159.20 and a fifty-two week high of $225.63.

Ferguson (NASDAQ:FERG) last posted 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. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The company had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the previous year, the business earned $2.77 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Analysts forecast that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were given a $0.79 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 1.51%. Ferguson’s dividend payout ratio is currently 37.05%.

Insider Buying and Selling at Ferguson

In other Ferguson news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Richard Winckler sold 1,325 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 1,000 shares in the company, valued at approximately $201,750. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the completion of the sale, the senior vice president now owns 1,882 shares in the company, valued at $378,696.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,313 shares of company stock worth $2,477,901 over the last quarter. 0.16% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on FERG. Wells Fargo & Company raised their price objective on Ferguson from $225.00 to $232.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Citigroup lifted their price target on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. UBS Group lifted their price target on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Jefferies Financial Group lifted their price target on Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Finally, Oppenheimer began coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.38.

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.