Neo Ivy Capital Management Makes New Investment in Ferguson plc (NASDAQ:FERG)

Neo Ivy Capital Management purchased a new stake in Ferguson plc (NASDAQ:FERG - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,880 shares of the company's stock, valued at approximately $970,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of Ferguson by 375.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company's stock valued at $1,218,032,000 after buying an additional 4,966,821 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Ferguson by 423.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,462,836 shares of the company's stock worth $290,475,000 after purchasing an additional 1,183,143 shares in the last quarter. Southpoint Capital Advisors LP raised its holdings in Ferguson by 133.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 700,000 shares of the company's stock valued at $138,999,000 after acquiring an additional 400,000 shares in the last quarter. Barclays PLC lifted its position in Ferguson by 76.9% during the third quarter. Barclays PLC now owns 867,593 shares of the company's stock worth $172,281,000 after purchasing an additional 377,283 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Ferguson in the third quarter valued at approximately $63,420,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Michael Jacobs sold 2,624 shares of the company's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $200.96, for a total value of $527,319.04. Following the transaction, the vice president now owns 1,116 shares in the company, valued at approximately $224,271.36. This represents a 70.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Garland Williams sold 1,118 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the sale, the senior vice president now directly owns 1,882 shares in the company, valued at approximately $378,696.04. This trade represents a 37.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,313 shares of company stock valued at $2,477,901. Corporate insiders own 0.16% of the company's stock.

Ferguson Stock Down 1.7 %

Shares of FERG traded down $3.32 on Thursday, reaching $190.35. The company's stock had a trading volume of 1,919,019 shares, compared to its average volume of 1,311,893. The stock has a market capitalization of $38.21 billion, a PE ratio of 22.85, a PEG ratio of 1.90 and a beta of 1.21. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. Ferguson plc has a twelve month low of $180.98 and a twelve month high of $225.63. The firm has a fifty day moving average of $203.89 and a 200-day moving average of $202.46.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a return on equity of 34.85% and a net margin of 5.68%. The business had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the prior year, the company posted $2.77 earnings per share. Ferguson's revenue was up 1.4% compared to the same quarter last year. Equities analysts predict that Ferguson plc will post 9.74 EPS for the current year.

Ferguson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Investors of record on Friday, December 20th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. This is a boost from Ferguson's previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.74%. Ferguson's payout ratio is 37.94%.

Analysts Set New Price Targets

A number of research firms have weighed in on FERG. Oppenheimer assumed coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They set an "outperform" rating and a $234.00 target price on the stock. UBS Group boosted their target price on shares of Ferguson from $228.00 to $236.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. Barclays dropped their price target on shares of Ferguson from $245.00 to $234.00 and set an "overweight" rating for the company in a research note on Thursday. Robert W. Baird decreased their price objective on Ferguson from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, Berenberg Bank lifted their target price on Ferguson from $224.00 to $240.00 and gave the stock a "buy" rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $231.00.

Ferguson Company Profile

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.