Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Holdings in Ferguson plc (NASDAQ:FERG)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Ferguson plc (NASDAQ:FERG) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,729 shares of the company’s stock after purchasing an additional 1,832 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Ferguson were worth $3,719,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Asset Dedication LLC acquired a new stake in shares of Ferguson during the 3rd quarter worth approximately $27,000. EdgeRock Capital LLC acquired a new stake in Ferguson during the second quarter worth $32,000. MCF Advisors LLC acquired a new stake in Ferguson during the first quarter worth $47,000. Versant Capital Management Inc raised its position in Ferguson by 2,462.5% in the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock valued at $79,000 after purchasing an additional 394 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Ferguson in the 2nd quarter valued at $105,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ferguson

In other Ferguson news, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.20, for a total transaction of $295,361.60. Following the completion of the transaction, the chief marketing officer now owns 5,205 shares in the company, valued at $1,047,246. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Richard Winckler sold 1,325 shares of the 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CMO Victoria Morrissey sold 1,468 shares of the firm’s stock in a transaction 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 completion of the sale, the chief marketing officer now owns 5,205 shares in the company, valued at approximately $1,047,246. This represents a 0.00 % decrease in their ownership of the stock. 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 90 days. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays boosted their price objective on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Citigroup boosted their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Robert W. Baird increased their price objective on shares of Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group boosted their target price on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group upped 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $232.29.

Ferguson Stock Performance

Shares of FERG stock opened at $204.48 on Monday. Ferguson plc has a 52 week low of $147.62 and a 52 week high of $225.63. The firm has a 50 day moving average of $200.77 and a two-hundred day moving average of $205.02. 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 market capitalization of $41.05 billion, a PE ratio of 23.97, a P/E/G ratio of 3.42 and a beta of 1.20.

Ferguson (NASDAQ:FERG) last released its earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.86 by $0.12. The firm had revenue of $7.95 billion during 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%. Ferguson’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.77 EPS. On average, research analysts predict that Ferguson plc will post 9.86 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.55%. Ferguson’s payout ratio is 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.