Perpetual Ltd Has $132.49 Million Stock Position in Ferguson plc $FERG

Perpetual Ltd lifted its stake in Ferguson plc (NYSE:FERG) by 52.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 589,953 shares of the company’s stock after purchasing an additional 203,065 shares during the period. Ferguson accounts for approximately 1.6% of Perpetual Ltd’s holdings, making the stock its 18th largest holding. Perpetual Ltd owned about 0.30% of Ferguson worth $132,492,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Ferguson in the second quarter valued at about $395,401,000. Price T Rowe Associates Inc. MD grew 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 worth $713,740,000 after buying an additional 1,755,464 shares during the period. Franklin Resources Inc. increased its stake in shares of Ferguson by 39.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock valued at $926,830,000 after acquiring an additional 1,201,493 shares during the last quarter. Durable Capital Partners LP acquired a new stake in shares of Ferguson in the 1st quarter valued at approximately $117,089,000. Finally, First Eagle Investment Management LLC bought a new position in Ferguson during the 2nd quarter worth approximately $130,650,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Up 1.4%

Ferguson stock opened at $229.11 on Friday. The firm has a 50 day moving average of $241.98. 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 twelve month low of $146.00 and a twelve month high of $256.93. The firm has a market capitalization of $44.80 billion, a PE ratio of 23.14, a PEG ratio of 1.89 and a beta of 1.17.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.07. The business had revenue of $8.17 billion for the quarter. Ferguson had a net margin of 6.28% and a return on equity of 36.42%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.45 earnings per share.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be paid a $0.89 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s dividend payout ratio (DPR) is 33.54%.

Insider Buying and Selling

In related news, CAO Richard Winckler sold 1,034 shares of Ferguson stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $232.70, for a total value of $240,611.80. Following the sale, the chief accounting officer owned 1,458 shares of the company’s stock, valued at approximately $339,276.60. This trade represents a 41.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Allison Stirrup sold 969 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $234.23, for a total value of $226,968.87. Following the completion of the sale, the insider owned 5,058 shares in the company, valued at $1,184,735.34. The trade was a 16.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 29,264 shares of company stock valued at $6,853,349. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on FERG. Oppenheimer upped their target price on shares of Ferguson from $235.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Truist Financial lifted their price target on shares of Ferguson from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, September 17th. Barclays lowered their price objective on shares of Ferguson from $273.00 to $267.00 and set an “overweight” rating for the company in a research report on Wednesday, December 10th. JPMorgan Chase & Co. raised their price objective on Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Finally, Wall Street Zen lowered Ferguson from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $250.47.

Ferguson Profile

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.