Algert Global LLC Purchases Shares of 6,288 Ferguson plc (NASDAQ:FERG)

Algert Global LLC purchased a new stake in shares of Ferguson plc (NASDAQ:FERG) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,288 shares of the company’s stock, valued at approximately $1,249,000.

Other hedge funds also recently bought and sold shares of the company. Asset Dedication LLC bought a new stake in Ferguson during the third quarter valued at about $27,000. EdgeRock Capital LLC bought a new stake in shares of Ferguson in the second quarter valued at about $32,000. Capital Performance Advisors LLP bought a new stake in shares of Ferguson in the third quarter valued at about $37,000. Peterson Financial Group Inc. bought a new stake in shares of Ferguson in the third quarter valued at about $39,000. Finally, Reston Wealth Management LLC bought a new stake in shares of Ferguson in the third quarter valued at about $40,000. 81.98% of the stock is currently owned by institutional investors.

Insider Transactions at Ferguson

In related news, insider Ian T. Graham sold 5,778 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.27, for a total value of $1,162,938.06. Following the completion of the sale, the insider now owns 5,938 shares of the company’s stock, valued at $1,195,141.26. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Garland Williams sold 1,118 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at approximately $378,696.04. This represents a 37.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,313 shares of company stock valued at $2,477,901. Corporate insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on FERG. UBS Group increased their target price on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Barclays increased their target price on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Citigroup increased their target price 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. Royal Bank of Canada increased their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Finally, Robert W. Baird increased their price target 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. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Ferguson Stock Performance

NASDAQ FERG opened at $213.27 on Friday. The firm has a market cap of $42.81 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 2.06 and a beta of 1.20. The company has a 50 day moving average of $201.47 and a 200-day moving average of $202.59. 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 1-year low of $166.21 and a 1-year high of $225.63.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion during 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 company’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $2.77 earnings per share. On average, equities analysts forecast that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, September 27th. Ferguson’s payout ratio is 37.05%.

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.