Ferguson plc $FERG Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its position in shares of Ferguson plc (NYSE:FERG) by 68.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,783 shares of the company’s stock after purchasing an additional 97,791 shares during the quarter. Nordea Investment Management AB owned 0.12% of Ferguson worth $52,230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Ferguson by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company’s stock worth $3,071,408,000 after purchasing an additional 806,718 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Ferguson by 24.5% during the 1st quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company’s stock valued at $1,227,410,000 after buying an additional 1,506,024 shares in the last quarter. Invesco Ltd. lifted its position in shares of Ferguson by 13.8% during the 1st quarter. Invesco Ltd. now owns 6,818,800 shares of the company’s stock valued at $1,092,576,000 after buying an additional 827,355 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Ferguson by 65.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company’s stock valued at $713,740,000 after buying an additional 1,755,464 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Ferguson by 101.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company’s stock valued at $667,498,000 after buying an additional 2,094,029 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Insider Buying and Selling at Ferguson

In other news, CFO William Brundage sold 3,000 shares of Ferguson stock in a transaction on Monday, October 13th. The stock was 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 $12,279,864.92. The trade was a 5.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James A. Paisley sold 3,000 shares of Ferguson stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total value of $710,910.00. Following the transaction, the insider owned 2,211 shares in the company, valued at approximately $523,940.67. This represents a 57.57% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,264 shares of company stock worth $6,853,349. Corporate insiders own 0.16% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $237.02 on Friday. The company has a fifty day moving average price of $230.41. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The stock has a market cap of $46.45 billion, a price-to-earnings ratio of 25.38, a P/E/G ratio of 1.95 and a beta of 1.17. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $243.40.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.48. The company had revenue of $8.50 billion for 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, September 26th. Ferguson’s payout ratio is currently 35.55%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FERG shares. Truist Financial increased their target price on Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Zacks Research upgraded Ferguson to a “hold” rating in a research report on Friday, August 8th. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a research report on Wednesday, September 10th. Barclays increased their target price on Ferguson from $247.00 to $273.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Finally, Royal Bank Of Canada increased their target price on Ferguson from $231.00 to $243.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average target price of $237.14.

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.