Ferguson plc (NASDAQ:FERG) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 40.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,847 shares of the company's stock after acquiring an additional 9,161 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Ferguson were worth $6,324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Saturna Capital Corp boosted its stake in shares of Ferguson by 0.6% in the third quarter. Saturna Capital Corp now owns 211,892 shares of the company's stock valued at $42,075,000 after purchasing an additional 1,336 shares during the period. Victory Capital Management Inc. increased its position in shares of Ferguson by 47.4% during the third quarter. Victory Capital Management Inc. now owns 245,014 shares of the company's stock worth $48,652,000 after acquiring an additional 78,775 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Ferguson in the third quarter valued at $2,528,000. Mascoma Wealth Management LLC purchased a new position in Ferguson in the third quarter valued at $70,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Ferguson by 14.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 491,033 shares of the company's stock worth $97,504,000 after purchasing an additional 60,282 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Ferguson

In other Ferguson news, SVP Garland Williams sold 1,118 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the completion of the transaction, the senior vice president now directly owns 1,882 shares of the company's stock, valued at approximately $378,696.04. This trade represents a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael Jacobs sold 2,624 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 1,116 shares of the company's stock, valued at $224,271.36. The trade was a 70.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock worth $2,477,901 in the last three months. Insiders own 0.16% of the company's stock.

Ferguson Stock Performance

NASDAQ:FERG traded down $2.85 during trading hours on Friday, reaching $200.37. 736,735 shares of the company's stock were exchanged, compared to its average volume of 1,266,422. Ferguson plc has a 1-year low of $163.03 and a 1-year high of $225.63. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $40.22 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 2.00 and a beta of 1.20. The company has a 50-day moving average of $199.17 and a 200 day moving average of $203.29.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. During the same quarter last year, the company posted $2.77 earnings per share. The business's revenue was up 1.4% on a year-over-year basis. Research analysts anticipate that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend was Friday, September 27th. Ferguson's dividend payout ratio is presently 37.05%.

Analyst Upgrades and Downgrades

FERG has been the subject of several recent research reports. Oppenheimer assumed coverage on Ferguson in a research note on Wednesday, October 23rd. They issued an "outperform" rating and a $234.00 price objective for the company. UBS Group increased their price objective on shares of Ferguson from $228.00 to $236.00 and gave the company a "buy" rating in a research report on Wednesday, September 18th. Robert W. Baird lifted their price objective on shares of Ferguson from $225.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Royal Bank of Canada raised their price target on Ferguson from $211.00 to $219.00 and gave the company an "outperform" rating in a research note on Wednesday, September 18th. Finally, Citigroup upped their price objective on Ferguson from $203.00 to $221.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferguson presently has an average rating of "Moderate Buy" and an average target price of $233.38.

About Ferguson

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.