KBC Group NV Purchases 3,893 Shares of Ferguson plc $FERG

KBC Group NV raised its position in Ferguson plc (NYSE:FERG) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,082 shares of the company’s stock after acquiring an additional 3,893 shares during the quarter. KBC Group NV owned approximately 0.05% of Ferguson worth $22,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. lifted its position in shares of Ferguson by 101.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company’s stock worth $667,498,000 after purchasing an additional 2,094,029 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Ferguson by 65.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company’s stock worth $713,740,000 after purchasing an additional 1,755,464 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Ferguson by 769.5% in the first quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company’s stock worth $203,004,000 after buying an additional 1,121,249 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Ferguson by 29.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company’s stock valued at $582,452,000 after purchasing an additional 831,112 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Ferguson by 13.8% in the 1st quarter. Invesco Ltd. now owns 6,818,800 shares of the company’s stock worth $1,092,576,000 after buying an additional 827,355 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FERG shares. JPMorgan Chase & Co. lifted their target price on shares of Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 15th. Wall Street Zen raised shares of Ferguson from a “hold” rating to a “buy” rating in a research note on Monday, October 20th. Royal Bank Of Canada boosted their price target on Ferguson from $231.00 to $243.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Sanford C. Bernstein initiated coverage on shares of Ferguson in a report on Wednesday. They set an “outperform” rating and a $288.00 price objective for the company. Finally, Truist Financial upped their price target on shares of Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $243.75.

Insider Activity

In other Ferguson news, insider James A. Paisley sold 3,000 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total value of $710,910.00. Following the completion of the sale, the insider directly owned 2,211 shares in the company, valued at approximately $523,940.67. This trade represents a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO William Brundage 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 $233.32, for a total transaction of $699,960.00. Following the transaction, the chief financial officer owned 52,631 shares in the company, valued at approximately $12,279,864.92. This trade represents a 5.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 29,264 shares of company stock worth $6,853,349 over the last quarter. Company insiders own 0.18% of the company’s stock.

Ferguson Price Performance

NYSE:FERG opened at $242.87 on Friday. The stock has a market capitalization of $47.60 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 2.05 and a beta of 1.18. The business has a 50-day simple moving average of $236.73. 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 1-year low of $146.00 and a 1-year high of $256.93.

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

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 7th. Shareholders of record on Friday, September 26th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, September 26th. Ferguson’s dividend payout ratio (DPR) is 35.55%.

Ferguson Company 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.