Bridgewater Associates LP Takes $204,000 Position in Ferguson plc (NASDAQ:FERG)

Bridgewater Associates LP purchased a new stake in Ferguson plc (NASDAQ:FERG) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,037 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors have also recently bought and sold shares of FERG. Asset Dedication LLC purchased a new position in shares of Ferguson in the third quarter worth approximately $27,000. EdgeRock Capital LLC acquired a new position in Ferguson in the 2nd quarter worth approximately $32,000. Capital Performance Advisors LLP purchased a new position in Ferguson during the 3rd quarter worth approximately $37,000. Peterson Financial Group Inc. acquired a new stake in Ferguson during the 3rd quarter valued at $39,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Ferguson in the third quarter valued at $40,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Insider Transactions at Ferguson

In related news, SVP Garland Williams sold 1,118 shares of Ferguson stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the transaction, the senior vice president now owns 1,882 shares in the company, valued at $378,696.04. This trade represents a 37.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ian T. Graham sold 5,778 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the sale, the insider now owns 5,938 shares of the company’s stock, valued at $1,195,141.26. This trade represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,313 shares of company stock worth $2,477,901. 0.16% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FERG. UBS Group lifted 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. Wells Fargo & Company increased their price target on shares of Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Barclays boosted their price objective on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Robert W. Baird increased their target price 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. Finally, Oppenheimer began coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price target on the stock. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $233.38.

Ferguson Trading Up 3.2 %

Shares of NASDAQ:FERG opened at $221.00 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $44.36 billion, a PE ratio of 25.91, a P/E/G ratio of 2.08 and a beta of 1.21. Ferguson plc has a 1 year low of $167.09 and a 1 year high of $225.63. The firm has a fifty day moving average price of $202.24 and a 200 day moving average price of $202.41.

Ferguson (NASDAQ:FERG) last released 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 36.53% and a net margin of 5.85%. The company 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 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. Analysts expect that Ferguson plc will post 9.77 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, September 27th. Ferguson’s dividend payout ratio is 37.05%.

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.