Legacy Capital Wealth Partners LLC Makes New Investment in Ferguson plc (NASDAQ:FERG)

by · The Cerbat Gem

Legacy Capital Wealth Partners LLC acquired a new position in Ferguson plc (NASDAQ:FERG – Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,073 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors have also recently modified their holdings of the stock. CWM LLC lifted its holdings in Ferguson by 303.7% in the third quarter. CWM LLC now owns 4,550 shares of the company’s stock valued at $904,000 after acquiring an additional 3,423 shares during the period. Manning & Napier Advisors LLC bought a new stake in Ferguson during the 2nd quarter valued at approximately $2,834,000. TD Asset Management Inc raised its stake in Ferguson by 53.4% during the 1st quarter. TD Asset Management Inc now owns 319,746 shares of the company’s stock valued at $69,953,000 after purchasing an additional 111,357 shares during the period. Swedbank AB bought a new stake in Ferguson during the 1st quarter valued at approximately $26,379,000. Finally, Acadian Asset Management LLC raised its stake in Ferguson by 1,835.1% during the 1st quarter. Acadian Asset Management LLC now owns 7,779 shares of the company’s stock valued at $1,697,000 after purchasing an additional 7,377 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Price Performance

Shares of Ferguson stock opened at $208.73 on Tuesday. The stock has a market cap of $41.90 billion, a price-to-earnings ratio of 24.47, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The stock has a 50 day moving average price of $198.70 and a 200-day moving average price of $203.33. Ferguson plc has a one year low of $159.20 and a one year high of $225.63.

Ferguson (NASDAQ:FERG – Get Free Report) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The company had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter in the previous year, the business earned $2.77 EPS. Ferguson’s revenue was up 1.4% compared to the same quarter last year. Equities analysts expect that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, September 27th. Ferguson’s payout ratio is currently 37.05%.

Analyst Upgrades and Downgrades

FERG has been the topic of several recent analyst reports. Robert W. Baird lifted their target price on Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays raised their price target on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Jefferies Financial Group raised their price target on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Citigroup raised their price target on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Finally, UBS Group raised their price target on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $233.38.

Check Out Our Latest Report on FERG

Insider Activity at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now owns 1,116 shares in the company, valued at $224,271.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ferguson news, insider Ian T. Graham sold 5,778 shares of Ferguson stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the completion of the sale, the insider now directly owns 5,938 shares of the company’s stock, valued at $1,195,141.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the sale, the vice president now directly owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,313 shares of company stock worth $2,477,901 in the last quarter. 0.16% of the stock is owned by company insiders.

Ferguson Profile

(Free Report)

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.

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