Point72 Asia Singapore Pte. Ltd. Buys Shares of 2,431 Ferguson plc (NASDAQ:FERG)

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ferguson plc (NASDAQ:FERG) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,431 shares of the company’s stock, valued at approximately $483,000.

Several other institutional investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC grew its position in Ferguson by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock worth $657,000 after acquiring an additional 57 shares during the period. Transatlantique Private Wealth LLC grew its holdings 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 purchasing an additional 60 shares during the period. Mayflower Financial Advisors LLC increased its position in shares of Ferguson by 3.2% during the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock worth $388,000 after purchasing an additional 61 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Ferguson by 33.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock valued at $72,000 after buying an additional 92 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its position in Ferguson by 4.1% in the second quarter. Sequoia Financial Advisors LLC now owns 2,416 shares of the company’s stock valued at $468,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Insider Activity at Ferguson

In other Ferguson news, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction that occurred 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 transaction, the vice president now owns 1,116 shares of the company’s stock, valued at $224,271.36. The trade was a 70.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Garland Williams sold 1,118 shares of the stock in a transaction that occurred 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 directly owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 37.27 % decrease in their ownership of the stock. 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 over the last ninety days. Insiders own 0.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FERG shares. Robert W. Baird lifted their price objective on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays lifted their target price on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Wells Fargo & Company upped their price target on Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. UBS Group lifted their price objective on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Oppenheimer began coverage on Ferguson in a research report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Ferguson Stock Down 0.8 %

Shares of NASDAQ FERG opened at $214.10 on Tuesday. The business has a 50-day moving average of $201.96 and a two-hundred day moving average of $202.40. The company has a market capitalization of $42.98 billion, a price-to-earnings ratio of 22.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.21. Ferguson plc has a 1 year low of $167.09 and a 1 year high of $225.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.86 by $0.12. The company 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 firm’s revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.77 earnings per share. On average, analysts forecast that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Announces Dividend

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

Ferguson Company 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.