Mirae Asset Global Investments Co. Ltd. Cuts Position in Ferguson plc (NASDAQ:FERG)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Ferguson plc (NASDAQ:FERG) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,514 shares of the company’s stock after selling 1,021 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Ferguson were worth $2,122,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. raised its holdings in Ferguson by 1.8% in the first quarter. Oppenheimer & Co. Inc. now owns 3,142 shares of the company’s stock worth $686,000 after purchasing an additional 57 shares in the last quarter. Transatlantique Private Wealth LLC raised its stake in shares of Ferguson by 3.0% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock worth $394,000 after acquiring an additional 60 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Ferguson by 3.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,130 shares of the company’s stock worth $412,000 after acquiring an additional 78 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Ferguson by 4.1% during the second quarter. Sequoia Financial Advisors LLC now owns 2,416 shares of the company’s stock valued at $468,000 after acquiring an additional 95 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Ferguson by 1.6% in the second quarter. Park Avenue Securities LLC now owns 6,241 shares of the company’s stock valued at $1,209,000 after acquiring an additional 100 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FERG has been the topic of a number of recent analyst reports. 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 report on Wednesday, July 17th. Citigroup upped their target price on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Wells Fargo & Company lowered their price target on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Oppenheimer initiated coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective on the stock. Finally, Barclays lifted their target price on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $232.50.

Insider Activity

In related news, CAO Richard Winckler sold 1,325 shares of Ferguson stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.75, for a total transaction of $267,318.75. Following the completion of the transaction, the chief accounting officer now directly owns 1,000 shares in the company, valued at approximately $201,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Richard Winckler sold 1,325 shares of Ferguson stock in a transaction dated 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 owns 1,000 shares in the company, valued at $201,750. This trade 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 this link. Also, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction of $224,963.96. Following the sale, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at $378,696.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,313 shares of company stock valued at $2,477,901 in the last quarter. 0.16% of the stock is currently owned by company insiders.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $197.14 on Thursday. Ferguson plc has a 52 week low of $147.62 and a 52 week high of $225.63. 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 firm has a market cap of $39.57 billion, a P/E ratio of 23.11, a P/E/G ratio of 1.91 and a beta of 1.20. The business’s 50 day moving average price is $199.40 and its 200 day moving average price is $203.79.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data 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%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.77 earnings per share. On average, sell-side analysts expect that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.16 annualized dividend and a dividend yield of 1.60%. 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.