Daymark Wealth Partners LLC Purchases New Position in Ferguson plc $FERG

Daymark Wealth Partners LLC acquired a new position in shares of Ferguson plc (NYSE:FERG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 948 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FERG. Hemington Wealth Management grew its holdings in shares of Ferguson by 51.5% in the 2nd 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 boosted its position in Ferguson by 230.8% in the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock valued at $37,000 after buying an additional 120 shares in the last quarter. Maseco LLP bought a new stake in Ferguson during the second quarter worth about $40,000. TD Private Client Wealth LLC grew its stake in Ferguson by 56.5% during the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Finally, Brooklyn Investment Group grew its stake in Ferguson by 103.6% during the first quarter. Brooklyn Investment Group now owns 226 shares of the company’s stock worth $36,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

FERG has been the topic of several research analyst reports. Oppenheimer upped their price objective on shares of Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a research note on Wednesday, October 8th. Truist Financial lifted their price target on Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Wells Fargo & Company increased their price objective on shares of Ferguson from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, September 17th. Finally, Zacks Research upgraded shares of Ferguson to a “hold” rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $240.80.

Insider Activity

In other Ferguson news, insider Ian T. Graham sold 606 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $239.33, for a total transaction of $145,033.98. Following the completion of the sale, the insider directly owned 7,714 shares of the company’s stock, valued at approximately $1,846,191.62. The trade was a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William Brundage sold 3,000 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $233.32, for a total value of $699,960.00. Following the sale, the chief financial officer directly owned 52,631 shares of the company’s stock, valued at $12,279,864.92. This represents a 5.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 29,264 shares of company stock worth $6,853,349. Corporate insiders own 0.18% of the company’s stock.

Ferguson Trading Up 1.1%

Shares of FERG stock opened at $248.59 on Friday. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $252.52. The business’s 50 day moving average is $233.81. The firm has a market capitalization of $48.72 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.05 and a beta of 1.17. 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 (NYSE:FERG) last announced its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.48. The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Ferguson Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson’s payout ratio is currently 35.55%.

About Ferguson

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.