Verition Fund Management LLC Boosts Position in Ferguson plc (NASDAQ:FERG)

Verition Fund Management LLC grew its position in Ferguson plc (NASDAQ:FERG - Free Report) by 555.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 39,625 shares of the company's stock after buying an additional 33,583 shares during the period. Verition Fund Management LLC's holdings in Ferguson were worth $7,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Frank Rimerman Advisors LLC grew its stake in shares of Ferguson by 1.8% in the third quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company's stock worth $657,000 after acquiring an additional 57 shares during the period. Transatlantique Private Wealth LLC boosted its holdings in Ferguson by 3.0% in the second quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company's stock worth $394,000 after purchasing an additional 60 shares during the last quarter. Mayflower Financial Advisors LLC grew its position in Ferguson by 3.2% in the 3rd quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company's stock worth $388,000 after purchasing an additional 61 shares during the period. GAMMA Investing LLC raised its stake in Ferguson by 3.8% during the 2nd quarter. GAMMA Investing LLC now owns 2,130 shares of the company's stock valued at $412,000 after buying an additional 78 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Ferguson by 33.8% during the 3rd 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 own 81.98% of the company's stock.

Insider Buying and Selling

In related news, VP Michael Jacobs sold 2,624 shares of the business'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 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 70.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Richard Winckler sold 1,325 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $201.75, for a total transaction of $267,318.75. Following the completion of the sale, the chief accounting officer now owns 1,000 shares of the company's stock, valued at approximately $201,750. This trade represents a 56.99 % 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 valued at $2,477,901 over the last quarter. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group raised their target price on Ferguson from $228.00 to $236.00 and gave the stock a "buy" rating in a research report on Wednesday, September 18th. 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. Barclays increased their price target on shares of Ferguson from $229.00 to $245.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Oppenheimer started coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They set an "outperform" rating and a $234.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on Ferguson from $225.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $233.38.

Ferguson Trading Down 0.8 %

Shares of Ferguson stock traded down $1.83 on Monday, reaching $214.10. The company had a trading volume of 1,398,269 shares, compared to its average volume of 1,270,738. The firm has a market cap of $42.98 billion, a price-to-earnings ratio of 25.09, a P/E/G ratio of 2.10 and a beta of 1.21. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00. The firm's 50-day moving average price is $201.96 and its two-hundred day moving average price is $202.40. Ferguson plc has a 1 year low of $167.09 and a 1 year high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The business had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the prior year, the firm posted $2.77 earnings per share. The business's revenue for the quarter was up 1.4% on a year-over-year basis. As a group, research analysts predict that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.79 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.48%. Ferguson's payout ratio is 37.05%.

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.