Westerkirk Capital Inc. Acquires New Position in Ferguson plc $FERG

Westerkirk Capital Inc. acquired a new stake in shares of Ferguson plc (NYSE:FERG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,300 shares of the company’s stock, valued at approximately $3,767,000.

A number of other large investors have also recently modified their holdings of FERG. Quantbot Technologies LP bought a new position in shares of Ferguson in the 2nd quarter valued at $3,080,000. M&T Bank Corp lifted its position in shares of Ferguson by 6.0% during the 2nd quarter. M&T Bank Corp now owns 7,574 shares of the company’s stock worth $1,649,000 after buying an additional 428 shares during the last quarter. Boston Family Office LLC acquired a new stake in Ferguson in the second quarter valued at about $268,000. River Road Asset Management LLC grew its position in Ferguson by 103.5% in the second quarter. River Road Asset Management LLC now owns 61,646 shares of the company’s stock valued at $13,767,000 after acquiring an additional 31,347 shares during the last quarter. Finally, West Family Investments Inc. raised its stake in Ferguson by 64.1% during the second quarter. West Family Investments Inc. now owns 2,055 shares of the company’s stock worth $447,000 after acquiring an additional 803 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Down 0.2%

NYSE FERG opened at $251.10 on Tuesday. The firm has a market capitalization of $49.21 billion, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $256.93. The firm has a fifty day moving average of $240.51.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, topping the consensus estimate of $3.00 by $0.48. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.The firm had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.44 billion.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, September 26th were issued a $0.83 dividend. The ex-dividend date was Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.3%. Ferguson’s dividend payout ratio is presently 35.55%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FERG. Zacks Research raised shares of Ferguson to a “hold” rating in a report on Friday, August 8th. 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 note on Wednesday, September 17th. Robert W. Baird boosted their target price on shares of Ferguson from $260.00 to $262.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. UBS Group upped their price target on shares of Ferguson from $204.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. raised their price objective on Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $246.41.

Insider Buying and Selling at Ferguson

In other Ferguson news, insider Allison Stirrup sold 969 shares of the firm’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $234.23, for a total transaction of $226,968.87. Following the completion of the transaction, the insider owned 5,058 shares in the company, valued at approximately $1,184,735.34. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Richard Winckler sold 1,034 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $232.70, for a total transaction of $240,611.80. Following the completion of the transaction, the chief accounting officer owned 1,458 shares in the company, valued at $339,276.60. This trade represents a 41.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 29,264 shares of company stock worth $6,853,349. Company insiders own 0.18% of the company’s stock.

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.