Principal Financial Group Inc. Purchases 7,862 Shares of Ferguson plc (NASDAQ:FERG)

Principal Financial Group Inc. boosted its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 32.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,025 shares of the company's stock after acquiring an additional 7,862 shares during the period. Principal Financial Group Inc.'s holdings in Ferguson were worth $6,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FERG. Asset Dedication LLC acquired a new position in shares of Ferguson during the third quarter valued at about $27,000. EdgeRock Capital LLC bought a new stake in shares of Ferguson during the second quarter valued at approximately $32,000. Reston Wealth Management LLC bought a new stake in shares of Ferguson during the third quarter valued at approximately $40,000. Canoe Financial LP bought a new stake in shares of Ferguson during the third quarter valued at approximately $41,000. Finally, Farther Finance Advisors LLC lifted its holdings in Ferguson by 33.8% in the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company's stock valued at $72,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Performance

Shares of FERG stock opened at $202.74 on Thursday. Ferguson plc has a 52 week low of $164.90 and a 52 week high of $225.63. 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 company has a 50-day simple moving average of $200.19 and a 200 day simple moving average of $202.88. The company has a market capitalization of $40.70 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 1.96 and a beta of 1.20.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its earnings results on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion during the quarter, compared to analysts' expectations of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.77 EPS. On average, sell-side analysts predict that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were given a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, September 27th. Ferguson's payout ratio is presently 37.05%.

Insider Activity at Ferguson

In related news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction that occurred on 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 of the company's stock, valued at approximately $378,696.04. The trade was a 37.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ian T. Graham sold 5,778 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 5,938 shares in the company, valued at $1,195,141.26. The trade was a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Ferguson from $225.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, November 7th. Citigroup raised their price objective on shares of Ferguson from $203.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, September 18th. Robert W. Baird raised their price objective on shares of Ferguson from $225.00 to $230.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Royal Bank of Canada raised their target price on shares of Ferguson from $211.00 to $219.00 and gave the company an "outperform" rating in a research report on Wednesday, September 18th. Finally, Oppenheimer started coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They issued an "outperform" rating and a $234.00 target price for the company. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Ferguson has an average rating of "Moderate Buy" and a consensus price target of $233.38.

Ferguson 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.