Geode Capital Management LLC Has $720.22 Million Stake in Ferguson plc $FERG

Geode Capital Management LLC lowered its holdings in Ferguson plc (NYSE:FERG) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,318,532 shares of the company’s stock after selling 21,594 shares during the quarter. Geode Capital Management LLC owned about 1.68% of Ferguson worth $720,215,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hemington Wealth Management lifted its position in Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after buying an additional 52 shares in the last quarter. US Bancorp DE raised its stake in shares of Ferguson by 0.8% in the first quarter. US Bancorp DE now owns 7,394 shares of the company’s stock worth $1,185,000 after acquiring an additional 59 shares during the last quarter. Compound Planning Inc. lifted its position in shares of Ferguson by 4.6% during the first quarter. Compound Planning Inc. now owns 1,386 shares of the company’s stock worth $222,000 after purchasing an additional 61 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Ferguson by 145.3% during the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 77 shares in the last quarter. Finally, Natural Investments LLC increased its holdings in shares of Ferguson by 1.5% in the second quarter. Natural Investments LLC now owns 5,445 shares of the company’s stock valued at $1,185,000 after purchasing an additional 80 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Price Performance

Shares of NYSE:FERG opened at $242.38 on Friday. The firm has a market cap of $47.50 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. The company has a 50 day moving average price of $236.81. The company has a quick ratio of 0.94, a current ratio of 1.68 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 $256.93.

Ferguson (NYSE:FERG) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, September 26th were given a $0.83 dividend. The ex-dividend date was Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. Ferguson’s payout ratio is currently 35.55%.

Analysts Set New Price Targets

Several research firms have issued reports on FERG. Barclays upped their price objective on Ferguson from $247.00 to $273.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Sanford C. Bernstein initiated coverage on Ferguson in a research note on Wednesday. They set an “outperform” rating and a $288.00 price target on the stock. UBS Group lifted their price objective on Ferguson from $204.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 17th. Wall Street Zen upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a research report on Monday, October 20th. Finally, Zacks Research raised shares of Ferguson to a “hold” rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.75.

Insider Buying and Selling at Ferguson

In other Ferguson news, CFO William Brundage sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $233.32, for a total transaction of $699,960.00. Following the sale, the chief financial officer directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Richard Winckler sold 1,034 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $232.70, for a total transaction of $240,611.80. Following the completion of the transaction, the chief accounting officer owned 1,458 shares of the company’s stock, valued at $339,276.60. This trade represents a 41.49% 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 in the last quarter. Company insiders own 0.18% of the company’s stock.

About Ferguson

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.