Reston Wealth Management LLC Invests $40,000 in Ferguson plc (NASDAQ:FERG)

Reston Wealth Management LLC purchased a new stake in Ferguson plc (NASDAQ:FERG) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 203 shares of the company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors have also modified their holdings of FERG. Bank of New York Mellon Corp raised its holdings in shares of Ferguson by 375.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock worth $1,218,032,000 after purchasing an additional 4,966,821 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Ferguson by 589.0% in the 1st 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 last quarter. Capital World Investors acquired a new position in Ferguson in the 1st quarter valued at $104,723,000. Waverton Investment Management Ltd grew its position in Ferguson by 61.0% in the 2nd quarter. Waverton Investment Management Ltd now owns 812,904 shares of the company’s stock worth $157,293,000 after purchasing an additional 308,138 shares during the last quarter. Finally, M&G Plc bought a new position in shares of Ferguson during the 1st quarter worth about $57,489,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ferguson news, CAO Richard Winckler sold 1,325 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.75, for a total value of $267,318.75. Following the transaction, the chief accounting officer now owns 1,000 shares of the company’s stock, valued at $201,750. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Richard Winckler sold 1,325 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.75, for a total value of $267,318.75. Following the transaction, the chief accounting officer now directly owns 1,000 shares of the company’s stock, valued at approximately $201,750. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Garland Williams sold 1,118 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.22, for a total value of $224,963.96. Following the sale, the senior vice president now directly owns 1,882 shares in the company, valued at approximately $378,696.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,313 shares of company stock valued at $2,477,901. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Oppenheimer started 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. Royal Bank of Canada lifted their price target on shares of Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research note on Wednesday, September 18th. UBS Group lifted their price target on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Jefferies Financial Group boosted their price objective on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Two research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $232.50.

Ferguson Price Performance

Shares of Ferguson stock opened at $198.13 on Friday. 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 company has a market cap of $39.77 billion, a PE ratio of 20.30, a P/E/G ratio of 1.91 and a beta of 1.20. The business has a 50 day moving average of $198.83 and a 200 day moving average of $203.63. Ferguson plc has a 52 week low of $154.61 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The firm had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the prior year, the company posted $2.77 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities research analysts forecast that Ferguson plc will post 9.77 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, September 27th. Ferguson’s 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.