ING Groep NV Invests $45.85 Million in Ferguson plc (NASDAQ:FERG)

ING Groep NV bought a new position in shares of Ferguson plc (NASDAQ:FERG) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 230,900 shares of the company’s stock, valued at approximately $45,850,000.

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

Insiders Place Their Bets

In other news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the transaction, the senior vice president now owns 1,882 shares in the company, valued at approximately $378,696.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Richard Winckler sold 1,325 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were 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 $201,750. This represents a 0.00 % decrease in their position. The transaction 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 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 owns 1,882 shares in the company, 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 12,313 shares of company stock worth $2,477,901 over the last three months. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Robert W. Baird boosted their price objective on Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer assumed coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price target for the company. UBS Group increased their price objective on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada lifted their target price on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Jefferies Financial Group upped their price target on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.38.

Ferguson Price Performance

Shares of NASDAQ FERG traded up $0.37 during mid-day trading on Thursday, reaching $205.88. The company had a trading volume of 278,179 shares, compared to its average volume of 1,265,118. The firm has a market cap of $41.33 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 2.00 and a beta of 1.20. The business’s 50-day simple moving average is $198.97 and its 200 day simple moving average is $203.29. Ferguson plc has a one year low of $163.03 and a one year high of $225.63. 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 released its 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 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 period last year, the firm earned $2.77 EPS. On average, research analysts predict 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. 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 yield of 1.53%. 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.