Mirabella Financial Services LLP Purchases Shares of 50,190 Ferguson plc (NASDAQ:FERG)

Mirabella Financial Services LLP purchased a new position in shares of Ferguson plc (NASDAQ:FERG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 50,190 shares of the company’s stock, valued at approximately $9,966,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in Ferguson by 589.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock valued at $353,778,000 after buying an additional 1,384,570 shares during the period. Kennedy Capital Management LLC acquired a new position in Ferguson in the 1st quarter valued at $216,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Ferguson during the 1st quarter worth $3,469,000. Vancity Investment Management Ltd bought a new position in shares of Ferguson in the first quarter worth $11,901,000. Finally, B. Riley Wealth Advisors Inc. raised its stake in Ferguson by 33.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,966 shares of the company’s stock valued at $866,000 after purchasing an additional 989 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FERG has been the topic of a number of analyst reports. Oppenheimer initiated coverage on shares of Ferguson in a research note on Wednesday, October 23rd. They set an “outperform” rating and a $234.00 price objective on the stock. Citigroup lifted their price objective on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. UBS Group upped their target price on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company lifted their price target on Ferguson from $225.00 to $232.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada upped their price objective on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.38.

Ferguson Stock Performance

Ferguson stock opened at $209.58 on Monday. Ferguson plc has a 1 year low of $166.21 and a 1 year high of $225.63. 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 company has a market capitalization of $42.07 billion, a P/E ratio of 21.56, a P/E/G ratio of 2.03 and a beta of 1.20. The business has a 50 day moving average of $200.83 and a 200-day moving average of $202.61.

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

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a dividend of $0.79 per share. The ex-dividend date was Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.51%. Ferguson’s dividend payout ratio is currently 37.05%.

Insider Buying and Selling at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of the stock in a transaction 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 transaction, the vice president now directly owns 1,116 shares of the company’s stock, valued at $224,271.36. This represents a 70.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 directly owns 5,938 shares of the company’s stock, valued at approximately $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 have sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is currently owned by company insiders.

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.