Saudi Central Bank Acquires 6,389 Shares of Ferguson plc $FERG

Saudi Central Bank raised its stake in shares of Ferguson plc (NYSE:FERG) by 88.5% during the second quarter, HoldingsChannel reports. The firm owned 13,607 shares of the company’s stock after buying an additional 6,389 shares during the quarter. Saudi Central Bank’s holdings in Ferguson were worth $3,229,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in shares of Ferguson during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Ferguson in the 4th quarter valued at about $26,000. Compass Financial Management LLC purchased a new position in Ferguson during the second quarter valued at approximately $32,000. Zions Bancorporation National Association UT raised its stake in Ferguson by 123.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after buying an additional 79 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new position in Ferguson in the third quarter worth approximately $34,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Jake Schlicher sold 5,177 shares of Ferguson stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $230.92, for a total value of $1,195,472.84. Following the completion of the transaction, the insider owned 9,490 shares in the company, valued at approximately $2,191,430.80. This trade represents a 35.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on FERG shares. Jefferies Financial Group set a $295.00 price target on Ferguson in a report on Thursday. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price for the company in a report on Friday, July 17th. Oppenheimer increased their price objective on Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada raised their target price on Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $285.57.

Ferguson Stock Up 0.1%

Shares of NYSE FERG opened at $228.53 on Tuesday. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $235.33 and a 200 day moving average of $237.85. The stock has a market cap of $44.21 billion, a PE ratio of 26.85, a P/E/G ratio of 1.58 and a beta of 1.13. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64.

Ferguson (NYSE:FERG) last posted its earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.16. The company had revenue of $8.75 billion for the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. As a group, sell-side analysts predict that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson’s dividend payout ratio is currently 41.83%.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.