Oppenheimer Asset Management Inc. Purchases 9,161 Shares of Ferguson plc (NASDAQ:FERG)

Oppenheimer Asset Management Inc. increased its position in shares of Ferguson plc (NASDAQ:FERG) by 40.4% during the third quarter, HoldingsChannel.com reports. The fund 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 reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Dedication LLC purchased a new position in shares of Ferguson during the 3rd quarter valued at $27,000. EdgeRock Capital LLC purchased a new position in Ferguson during the second quarter worth about $32,000. Capital Performance Advisors LLP purchased a new stake in shares of Ferguson in the 3rd quarter valued at about $37,000. Reston Wealth Management LLC bought a new stake in shares of Ferguson during the 3rd quarter valued at about $40,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Ferguson during the third quarter worth about $40,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

FERG opened at $203.22 on Friday. 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 stock’s 50 day simple moving average is $199.17 and its 200 day simple moving average is $203.29. The firm has a market cap of $40.79 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 2.00 and a beta of 1.20. Ferguson plc has a 1 year low of $163.03 and a 1 year high of $225.63.

Ferguson (NASDAQ:FERG) last issued its 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 net margin of 5.85% and a return on equity of 36.53%. The firm had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter last year, the business earned $2.77 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. As a group, analysts predict that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, September 27th. Ferguson’s dividend payout ratio (DPR) is 37.05%.

Insider Transactions at Ferguson

In related news, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $201.22, for a total transaction of $224,963.96. Following the completion of the transaction, the senior vice president now owns 1,882 shares in the company, valued at $378,696.04. This represents a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ian T. Graham sold 5,778 shares of Ferguson stock in a transaction on 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 completion of the sale, the insider now owns 5,938 shares in the company, valued at approximately $1,195,141.26. This trade represents a 49.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,313 shares of company stock worth $2,477,901. Company insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FERG. Robert W. Baird raised their target price on shares of Ferguson from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Oppenheimer began coverage on shares of Ferguson in a report on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective for the company. Citigroup increased their target price on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Barclays lifted their price target on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada increased their price objective on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus target price of $233.38.

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.