Munich Reinsurance Co Stock Corp in Munich Purchases 7,916 Shares of Ferguson plc $FERG

Munich Reinsurance Co Stock Corp in Munich increased its position in Ferguson plc (NYSE:FERG) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,515 shares of the company’s stock after purchasing an additional 7,916 shares during the period. Ferguson makes up 1.8% of Munich Reinsurance Co Stock Corp in Munich’s investment portfolio, making the stock its 15th largest holding. Munich Reinsurance Co Stock Corp in Munich’s holdings in Ferguson were worth $77,509,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after acquiring an additional 2,940 shares in the last quarter. Caxton Associates LLP acquired a new position in Ferguson during the 1st quarter valued at about $310,000. Focus Partners Wealth boosted its stake in Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after purchasing an additional 581 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Ferguson during the 2nd quarter worth approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of Ferguson stock opened at $228.53 on Friday. The business’s fifty day simple moving average is $235.52 and its 200 day simple moving average is $238.23. The company has a current ratio of 1.73, a quick ratio of 0.93 and a debt-to-equity ratio of 0.72. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. The firm has a market capitalization of $44.21 billion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. Ferguson had a return on equity of 37.24% and a net margin of 6.82%.The firm had revenue of $8.75 billion during the quarter. As a group, analysts anticipate that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FERG. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a report on Friday, July 17th. Wells Fargo & Company raised their price objective on Ferguson from $285.00 to $295.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Sanford C. Bernstein upped their target price on shares of Ferguson from $310.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Royal Bank Of Canada increased their target price on shares of Ferguson from $281.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Finally, Robert W. Baird raised their price target on shares of Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.57.

Insiders Place Their Bets

In related news, insider Jake Schlicher sold 5,177 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $230.92, for a total transaction 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 represents a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

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.