KLP Kapitalforvaltning AS Purchases 23,000 Shares of Ferguson plc $FERG

KLP Kapitalforvaltning AS grew its position in shares of Ferguson plc (NYSE:FERG) by 32.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,744 shares of the company’s stock after buying an additional 23,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Ferguson were worth $21,328,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in FERG. True Wealth Design LLC boosted its stake in Ferguson by 145.3% during the 2nd quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 77 shares during the last quarter. Hemington Wealth Management raised its stake in shares of Ferguson by 51.5% in the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Ferguson by 230.8% during the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $37,000 after purchasing an additional 120 shares in the last quarter. Maseco LLP purchased a new stake in shares of Ferguson during the second quarter valued at $40,000. Finally, Harbour Investments Inc. increased its holdings in Ferguson by 61.3% in the 2nd quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock worth $53,000 after buying an additional 92 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Ferguson

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Quarterly fundamentals beat consensus and showed revenue growth and strong ROE, supporting the company’s mid-cycle earnings resilience and helping justify current valuation despite recent share weakness.
• Neutral Sentiment: Market commentary piece reviews investor/short-seller sentiment toward Ferguson (Ferguson Enterprises / market views). This kind of analysis can influence near-term trading flows but does not change Ferguson plc’s reported results. What Does the Market Think About Ferguson Enterprises Inc?
• Neutral Sentiment: Local/state government story mentioning “Gov. Ferguson” (ferry plan) is unrelated to Ferguson plc’s business and should not affect the stock’s fundamentals. Gov. Ferguson’s ferry plan tested by three broken boats
• Neutral Sentiment: Several entertainment/celebrity articles reference Sarah Ferguson (royal family coverage) — not related to the company’s operations or outlook. Sarah Ferguson was ‘lonely, deeply unhappy’ in Andrew marriage Sarah Ferguson sets sights on new chapter amid Royal Lodge eviction Sarah Ferguson’s nickname for the late queen revealed
• Neutral Sentiment: Multiple sports stories concern people named Ferguson (Evan Ferguson, Sir Alex Ferguson comparisons, player paternity leave) and do not pertain to Ferguson plc’s business. These are unlikely to move the stock. Ferguson and Dovbyk fire Roma to win at Lecce Evan Ferguson scores as Roma move up to fourth Ferguson, Henry may take paternity leave during T20 World Cup

Ferguson Stock Performance

FERG opened at $222.32 on Thursday. The company’s 50 day moving average is $237.70 and its 200 day moving average is $231.81. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The company has a market cap of $43.48 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 1.89 and a beta of 1.18. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $256.93.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, December 9th. The company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. The business had revenue of $8.17 billion during the quarter. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.45 earnings per share.

Ferguson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. This is an increase from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s payout ratio is 35.96%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FERG shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $243.00 target price on shares of Ferguson in a research report on Wednesday, December 10th. Wells Fargo & Company boosted their price objective on shares of Ferguson from $275.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, December 4th. Truist Financial increased their price objective on shares of Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Barclays cut their target price 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. Finally, Wall Street Zen upgraded shares of Ferguson from a “hold” rating to a “buy” rating in a research note on Sunday, December 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $252.06.

Insider Activity at Ferguson

In other news, CFO William Brundage sold 3,000 shares of Ferguson stock in a transaction dated 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 directly owned 52,631 shares of the company’s stock, valued at $12,279,864.92. The trade was a 5.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ian T. Graham sold 4,864 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $233.22, for a total value of $1,134,382.08. Following the transaction, the insider owned 7,769 shares of the company’s stock, valued at approximately $1,811,886.18. This trade represents a 38.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,264 shares of company stock valued at $6,853,349 in the last ninety days. Corporate insiders own 0.18% of the company’s stock.

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.