Chartwell Investment Partners LLC Invests $6.63 Million in Ferguson plc (NASDAQ:FERG)

Chartwell Investment Partners LLC purchased a new stake in Ferguson plc (NASDAQ:FERG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,402 shares of the company’s stock, valued at approximately $6,633,000.

Other hedge funds have also added to or reduced their stakes in the company. Asset Dedication LLC purchased a new position in shares of Ferguson during the third quarter valued at approximately $27,000. EdgeRock Capital LLC bought a new position in Ferguson during the 2nd quarter valued at $32,000. Capital Performance Advisors LLP purchased a new position in Ferguson during the 3rd quarter worth $37,000. Reston Wealth Management LLC bought a new stake in shares of Ferguson in the 3rd quarter worth $40,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Ferguson in the third quarter valued at about $40,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FERG. Jefferies Financial Group boosted 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 boosted their target price on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company increased their price target on Ferguson from $225.00 to $232.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price objective on Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Citigroup raised 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. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $233.38.

Ferguson Stock Up 0.6 %

FERG stock opened at $208.73 on Tuesday. The stock has a fifty day moving average of $198.70 and a 200-day moving average of $203.33. Ferguson plc has a fifty-two week low of $159.20 and a fifty-two week high of $225.63. The company has a market capitalization of $41.90 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 2.02 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80.

Ferguson (NASDAQ:FERG) last posted its earnings results 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. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The firm had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter last year, the company earned $2.77 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts predict that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Announces Dividend

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

Insider Transactions at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Ferguson news, VP Michael Jacobs sold 2,624 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $200.96, for a total value of $527,319.04. Following the completion of the transaction, the vice president now owns 1,116 shares in the company, valued at $224,271.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were 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 approximately $378,696.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock valued at $2,477,901 over the last three months. Company insiders own 0.16% of the company’s stock.

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.