Ferguson plc $FERG Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ferguson plc (NYSE:FERG) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 67,325 shares of the company’s stock, valued at approximately $14,988,000.

Several other institutional investors and hedge funds also recently bought and sold shares of FERG. Farmers & Merchants Investments Inc. bought a new stake in shares of Ferguson in the 3rd quarter worth about $28,000. Compass Financial Management LLC purchased a new position in shares of Ferguson during the 2nd quarter worth about $32,000. Eastern Bank bought a new position in Ferguson during the 2nd quarter valued at about $42,000. Vega Investment Solutions grew its holdings in Ferguson by 50.5% during the 2nd quarter. Vega Investment Solutions now owns 277 shares of the company’s stock valued at $66,000 after purchasing an additional 93 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. raised its position in Ferguson by 93.5% in the 2nd quarter. Keating Financial Advisory Services Inc. now owns 296 shares of the company’s stock worth $70,000 after purchasing an additional 143 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ferguson

In other news, insider Ian Graham sold 1,854 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $218.74, for a total transaction of $405,543.96. Following the transaction, the insider owned 11,511 shares in the company, valued at approximately $2,517,916.14. This trade represents a 13.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kevin Murphy sold 11,259 shares of Ferguson stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $216.78, for a total value of $2,440,726.02. Following the completion of the sale, the insider owned 173,863 shares of the company’s stock, valued at $37,690,021.14. The trade was a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 38,808 shares of company stock worth $8,571,587. Insiders own 0.15% of the company’s stock.

Ferguson Stock Down 0.2%

Shares of NYSE FERG opened at $241.75 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. The firm has a market capitalization of $46.77 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 1.75 and a beta of 1.11. The stock has a 50 day moving average price of $225.10 and a 200 day moving average price of $237.28. Ferguson plc has a 52-week low of $212.13 and a 52-week high of $271.64.

Ferguson (NYSE:FERG) last announced 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%. Sell-side analysts expect that Ferguson plc will post 11.42 earnings per share for the current year.

Analysts Set New Price Targets

FERG has been the topic of several recent analyst reports. DA Davidson increased their price target on Ferguson from $278.00 to $284.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Ferguson in a report on Tuesday, September 29th. Jefferies Financial Group cut their price objective on Ferguson from $295.00 to $292.00 in a research report on Thursday, October 15th. Bank of America reduced their target price on Ferguson from $325.00 to $315.00 in a research note on Tuesday, August 18th. Finally, UBS Group lifted their target price on Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $287.44.

About Ferguson

Ferguson plc (NYSE: FERG) is a value-added distributor of plumbing, heating, ventilation and air conditioning (HVAC), waterworks, fire protection and other building and industrial products. The company serves professional contractors, municipalities, commercial and industrial businesses, and other customers through a network of branches, distribution centers, showrooms and digital platforms.

Its product offering includes pipes, valves, fittings, plumbing fixtures, water and wastewater infrastructure products, HVAC equipment, fire protection systems, industrial supplies and related tools and services.