Ferguson (NYSE:FERG) Insider Jake Schlicher Sells 5,177 Shares

Ferguson plc (NYSE:FERG) insider Jake Schlicher sold 5,177 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $230.92, for a total value of $1,195,472.84. Following the completion of the sale, the insider owned 9,490 shares in the company, valued at $2,191,430.80. This represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Ferguson Stock Performance

NYSE FERG traded down $5.42 during trading on Tuesday, hitting $219.09. 1,884,121 shares of the company’s stock traded hands, compared to its average volume of 1,741,421. The stock has a market capitalization of $42.38 billion, a price-to-earnings ratio of 25.75, a PEG ratio of 1.59 and a beta of 1.14. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. 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 business has a 50 day moving average of $236.68 and a 200-day moving average of $239.20.

Ferguson (NYSE:FERG) last posted its earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.16. The firm had revenue of $8.75 billion during the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. As a group, equities research analysts anticipate that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.56 annualized dividend and a yield of 1.6%. Ferguson’s dividend payout ratio (DPR) is 41.83%.

Ferguson declared that its board has approved a stock buyback program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FERG shares. Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Barclays raised their price target on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a research report on Friday, July 17th. Robert W. Baird boosted their price objective on Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $261.00 price objective on shares of Ferguson in a report on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Ferguson has an average rating of “Moderate Buy” and an average target price of $285.93.

Institutional Investors Weigh In On Ferguson

Large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its holdings in shares of Ferguson by 23,684.2% in the 2nd quarter. California State Teachers Retirement System now owns 69,745,828 shares of the company’s stock worth $16,552,777,000 after purchasing an additional 69,452,584 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Ferguson during the 2nd quarter valued at about $1,789,368,000. Wellington Management Group LLP raised its holdings in shares of Ferguson by 150.8% during the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after buying an additional 5,631,554 shares in the last quarter. Norges Bank bought a new stake in Ferguson in the 4th quarter worth approximately $498,005,000. Finally, Durable Capital Partners LP bought a new stake in Ferguson in the 3rd quarter worth approximately $244,561,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

About Ferguson

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.