Neo Ivy Capital Management Takes $970,000 Position in Ferguson plc (NASDAQ:FERG)

Neo Ivy Capital Management bought a new position in shares of Ferguson plc (NASDAQ:FERG) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,880 shares of the company’s stock, valued at approximately $970,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Asset Dedication LLC purchased a new stake in shares of Ferguson during the third quarter worth $27,000. True Wealth Design LLC increased its holdings in Ferguson by 1,350.0% during the 3rd quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after purchasing an additional 135 shares during the period. EdgeRock Capital LLC acquired a new stake in Ferguson in the 2nd quarter valued at about $32,000. Capital Performance Advisors LLP purchased a new position in shares of Ferguson in the 3rd quarter valued at about $37,000. Finally, Peterson Financial Group Inc. acquired a new position in shares of Ferguson during the third quarter worth about $39,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Price Performance

Shares of NASDAQ FERG opened at $193.69 on Thursday. 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 cap of $38.88 billion, a P/E ratio of 20.54, a P/E/G ratio of 1.90 and a beta of 1.21. The stock has a 50 day moving average of $203.92 and a two-hundred day moving average of $202.55. Ferguson plc has a twelve month low of $180.98 and a twelve month high of $225.63.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 5.68% and a return on equity of 34.85%. The firm had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter in the prior year, the business earned $2.77 EPS. Ferguson’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, research analysts forecast that Ferguson plc will post 9.74 earnings per share for the current year.

Ferguson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, December 20th. This is an increase from Ferguson’s previous quarterly dividend of $0.79. This represents a $3.32 annualized dividend and a yield of 1.71%. Ferguson’s dividend payout ratio is currently 37.94%.

Insiders Place Their Bets

In related news, insider Ian T. Graham sold 5,778 shares of the 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 completion of the transaction, the insider now directly owns 5,938 shares of the company’s stock, valued at $1,195,141.26. This represents a 49.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Michael Jacobs sold 2,624 shares of Ferguson stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total value of $527,319.04. Following the completion of the sale, the vice president now directly owns 1,116 shares in the company, valued at $224,271.36. This represents a 70.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FERG shares. Wells Fargo & Company reduced their target price on shares of Ferguson from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup lifted their price objective on shares of Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Berenberg Bank increased their target price on Ferguson from $224.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $219.00 price target on shares of Ferguson in a report on Wednesday. Finally, Barclays increased their price objective on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $232.22.

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.