Ferguson (NYSE:FERG) CFO William Brundage Sells 5,986 Shares of Stock

Ferguson plc (NYSE:FERG) CFO William Brundage sold 5,986 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $218.74, for a total value of $1,309,377.64. Following the completion of the transaction, the chief financial officer directly owned 54,908 shares in the company, valued at $12,010,575.92. This trade represents a 9.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ferguson Stock Performance

Shares of FERG opened at $222.95 on Thursday. The stock has a 50 day moving average price of $229.04 and a 200 day moving average price of $234.52. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $43.13 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 1.61 and a beta of 1.14. Ferguson plc has a 52-week low of $212.13 and a 52-week high of $271.64.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.16. The company had revenue of $8.75 billion for the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. Research analysts predict that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson Dividend Announcement

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

Institutional Investors Weigh In On Ferguson

A number of large investors have recently bought and sold shares of the stock. Wedbush Securities Inc. lifted its position in shares of Ferguson by 4.3% in the second quarter. Wedbush Securities Inc. now owns 1,197 shares of the company’s stock valued at $284,000 after acquiring an additional 49 shares in the last quarter. L2 Asset Management LLC boosted its stake in shares of Ferguson by 5.2% during the second quarter. L2 Asset Management LLC now owns 1,109 shares of the company’s stock valued at $263,000 after acquiring an additional 55 shares during the last quarter. Cidel Asset Management Inc. increased its position in Ferguson by 3.8% during the 2nd quarter. Cidel Asset Management Inc. now owns 1,541 shares of the company’s stock worth $366,000 after purchasing an additional 56 shares in the last quarter. Natural Investments LLC increased its position in Ferguson by 6.9% during the 2nd quarter. Natural Investments LLC now owns 944 shares of the company’s stock worth $224,000 after purchasing an additional 61 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Ferguson by 26.1% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 300 shares of the company’s stock worth $67,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of Ferguson from $290.00 to $286.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 7th. Wolfe Research began coverage on shares of Ferguson in a research report on Tuesday, September 15th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $261.00 price objective on shares of Ferguson in a report on Tuesday, August 18th. The Goldman Sachs Group lowered Ferguson from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $315.00 to $265.00 in a report on Monday, July 6th. Finally, Barclays boosted their target price on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.78.

More Ferguson News

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Six insiders collectively sold 27,327 shares worth approximately $6.0 million on October 12. The sellers included CFO William Brundage, COO William Thees Jr., VP Anthony Camposano and other insiders. Each retained a meaningful position in Ferguson following the transactions. SEC insider transaction filings
• Negative Sentiment: The volume of sales across multiple insiders may create modest near-term pressure on investor sentiment, particularly because individual holdings declined by roughly 6% to 25%. However, the pre-arranged nature of the plans suggests the sales were scheduled rather than necessarily driven by concerns about Ferguson’s business or valuation. SEC insider sale filing

Ferguson Company Profile

Ferguson plc (NYSE: FERG) is a North American distributor of plumbing and heating products, supplying professional customers across the residential, commercial, industrial and infrastructure markets. The company serves contractors, builders, remodelers, municipalities, industrial businesses and other trade professionals through branch locations, distribution centers and digital ordering platforms.

Its product offerings include plumbing supplies and fixtures, heating and cooling equipment, water and wastewater products, fire protection systems, waterworks materials, industrial piping and related maintenance, repair and operating supplies.