Resona Asset Management Co. Ltd. Grows Stock Holdings in Ferguson plc $FERG

Resona Asset Management Co. Ltd. raised its holdings in Ferguson plc (NYSE:FERG) by 3.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 71,196 shares of the company’s stock after acquiring an additional 2,361 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Ferguson were worth $15,505,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Hemington Wealth Management grew its position in shares of Ferguson by 51.5% in the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock valued at $33,000 after purchasing an additional 52 shares during the period. Fifth Third Bancorp boosted its stake in Ferguson by 230.8% in the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after buying an additional 120 shares during the last quarter. Maseco LLP purchased a new stake in Ferguson in the 2nd quarter valued at about $40,000. TD Private Client Wealth LLC grew its holdings in Ferguson by 56.5% in the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock valued at $33,000 after buying an additional 74 shares during the period. Finally, Brooklyn Investment Group increased its stake in shares of Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock valued at $36,000 after acquiring an additional 115 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Up 1.5%

Shares of FERG stock opened at $249.91 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $252.52. The firm’s 50 day simple moving average is $235.26. The firm has a market capitalization of $48.98 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.00 by $0.48. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Stockholders of record on Friday, September 26th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, September 26th. Ferguson’s payout ratio is presently 35.55%.

Insiders Place Their Bets

In other Ferguson news, insider Ian T. Graham sold 4,864 shares of the business’s stock in a transaction on Monday, October 13th. The shares were sold at an average price of $233.22, for a total value of $1,134,382.08. Following the transaction, the insider owned 7,769 shares in the company, valued at $1,811,886.18. The trade was a 38.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Jake Schlicher sold 3,000 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $233.52, for a total transaction of $700,560.00. Following the completion of the transaction, the senior vice president directly owned 11,651 shares of the company’s stock, valued at approximately $2,720,741.52. The trade was a 20.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 29,264 shares of company stock valued at $6,853,349. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FERG shares. Royal Bank Of Canada raised their target price on shares of Ferguson from $231.00 to $243.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 17th. Wells Fargo & Company increased their price target on shares of Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a research note on Wednesday, October 8th. UBS Group boosted their price objective on shares of Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, September 17th. Finally, Robert W. Baird upped their price objective on Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $240.80.

Ferguson Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.