Sterling Capital Management LLC Purchases 247,818 Shares of Ferguson plc $FERG

Sterling Capital Management LLC increased its holdings in shares of Ferguson plc (NYSE:FERG) by 59.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 662,382 shares of the company’s stock after buying an additional 247,818 shares during the quarter. Ferguson accounts for approximately 2.0% of Sterling Capital Management LLC’s holdings, making the stock its 6th largest holding. Sterling Capital Management LLC owned 0.34% of Ferguson worth $144,234,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FERG. Cambridge Investment Research Advisors Inc. increased its stake in Ferguson by 24.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company’s stock worth $544,000 after purchasing an additional 657 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Ferguson by 30.6% in the first quarter. OneDigital Investment Advisors LLC now owns 4,242 shares of the company’s stock valued at $680,000 after buying an additional 995 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock valued at $33,000 after buying an additional 74 shares during the period. Greenleaf Trust increased its position in shares of Ferguson by 12.4% during the first quarter. Greenleaf Trust now owns 4,270 shares of the company’s stock worth $684,000 after acquiring an additional 471 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Ferguson by 3,777.8% during the first quarter. Nisa Investment Advisors LLC now owns 17,450 shares of the company’s stock worth $2,810,000 after acquiring an additional 17,000 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Trading Down 1.0%

Shares of FERG opened at $246.58 on Friday. The firm has a market cap of $48.32 billion, a P/E ratio of 26.40, a PEG ratio of 2.05 and a beta of 1.18. The stock’s 50-day moving average is $234.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $252.52.

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

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, September 26th. Ferguson’s dividend payout ratio (DPR) is presently 35.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FERG. Zacks Research raised shares of Ferguson to a “hold” rating in a research note on Friday, August 8th. Robert W. Baird increased their price objective on shares of Ferguson from $260.00 to $262.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Vertical Research started coverage on Ferguson in a research note on Monday, October 20th. They issued a “buy” rating and a $291.99 price target for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a report on Wednesday, October 8th. Finally, UBS Group upped their price objective on shares of Ferguson from $204.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 17th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $240.80.

Insider Transactions at Ferguson

In related news, insider James A. Paisley sold 3,000 shares of the company’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total transaction of $710,910.00. Following the sale, the insider owned 2,211 shares in the company, valued at $523,940.67. This represents a 57.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jake Schlicher sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $233.52, for a total value of $700,560.00. Following the completion of the transaction, the senior vice president directly owned 11,651 shares in the company, valued at approximately $2,720,741.52. This trade represents a 20.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 29,264 shares of company stock worth $6,853,349. Corporate insiders own 0.18% of the company’s stock.

Ferguson 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.