Cannon Global Investment Management LLC Acquires Shares of 2,000 Ferguson plc (NASDAQ:FERG)

Cannon Global Investment Management LLC acquired a new stake in shares of Ferguson plc (NASDAQ:FERG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,000 shares of the company’s stock, valued at approximately $397,000.

A number of other large investors have also added to or reduced their stakes in FERG. Asset Dedication LLC purchased a new position in Ferguson during the third quarter valued at $27,000. EdgeRock Capital LLC purchased a new position in shares of Ferguson in the second quarter worth $32,000. Reston Wealth Management LLC purchased a new position in shares of Ferguson in the third quarter worth $40,000. Canoe Financial LP purchased a new position in shares of Ferguson in the third quarter worth $41,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Ferguson by 33.8% in the third quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Insider Buying and Selling at Ferguson

In other Ferguson news, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.20, for a total transaction of $295,361.60. Following the completion of the sale, the chief marketing officer now owns 5,205 shares of the company’s stock, valued at approximately $1,047,246. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Ian T. Graham sold 5,778 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.27, for a total value of $1,162,938.06. Following the transaction, the insider now directly owns 5,938 shares in the company, valued at $1,195,141.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.20, for a total value of $295,361.60. Following the completion of the transaction, the chief marketing officer now owns 5,205 shares in the company, valued at $1,047,246. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,313 shares of company stock valued at $2,477,901. Company insiders own 0.16% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Barclays boosted 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. Wells Fargo & Company decreased their price target on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada lifted their price objective on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a report on Wednesday, September 18th. Finally, Citigroup lifted their price objective on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus price target of $232.50.

Ferguson Stock Performance

NASDAQ:FERG traded up $1.24 during mid-day trading on Friday, hitting $197.98. 1,631,771 shares of the company traded hands, compared to its average volume of 1,395,496. The stock’s fifty day moving average price is $198.83 and its 200-day moving average price is $203.54. Ferguson plc has a one year low of $154.61 and a one 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 cap of $39.74 billion, a price-to-earnings ratio of 23.21, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20.

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, beating 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 business had revenue of $7.95 billion during the quarter, compared to analyst estimates of $8.01 billion. During the same quarter in the previous year, the company posted $2.77 earnings per share. Ferguson’s revenue for the quarter was up 1.4% on a year-over-year basis. Research analysts anticipate that Ferguson plc will post 9.77 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Friday, September 27th. Ferguson’s dividend payout ratio is presently 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.