Ferguson plc $FERG Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its position in shares of Ferguson plc (NYSE:FERG) by 9.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,792 shares of the company’s stock after buying an additional 3,183 shares during the quarter. Mackenzie Financial Corp’s holdings in Ferguson were worth $8,229,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its position in Ferguson by 101.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company’s stock worth $667,498,000 after acquiring an additional 2,094,029 shares during the last quarter. Norges Bank purchased a new position in shares of Ferguson during the 2nd quarter worth $395,401,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Ferguson by 65.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company’s stock worth $713,740,000 after purchasing an additional 1,755,464 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Ferguson by 39.3% during the second quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock worth $926,830,000 after purchasing an additional 1,201,493 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Ferguson by 769.5% in the first quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company’s stock valued at $203,004,000 after purchasing an additional 1,121,249 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

FERG opened at $252.10 on Wednesday. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $256.93. The business’s 50 day simple moving average is $240.89. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The firm has a market cap of $49.41 billion, a P/E ratio of 26.99, a PEG ratio of 2.15 and a beta of 1.17.

Ferguson (NYSE:FERG) last released its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.48. Ferguson had a net margin of 6.03% and a return on equity of 35.21%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.44 billion.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 7th. Investors of record on Friday, September 26th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, September 26th. Ferguson’s dividend payout ratio is currently 35.55%.

Insider Buying and Selling

In other Ferguson news, SVP Jake Schlicher sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $233.52, for a total value of $700,560.00. Following the transaction, the senior vice president directly owned 11,651 shares of the company’s stock, valued at $2,720,741.52. This trade represents a 20.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ian T. Graham sold 4,864 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $233.22, for a total value of $1,134,382.08. Following the completion of the sale, the insider directly owned 7,769 shares of the company’s stock, valued at $1,811,886.18. The trade was a 38.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 29,264 shares of company stock valued at $6,853,349 over the last ninety days. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

FERG has been the topic of several recent analyst reports. Vertical Research began coverage on Ferguson in a research report on Monday, October 20th. They set a “buy” rating and a $291.99 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of Ferguson from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 15th. Jefferies Financial Group boosted their target price on shares of Ferguson from $268.00 to $289.00 and gave the company a “buy” rating in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Ferguson in a research note on Wednesday, October 8th. Finally, Barclays lifted their price target on shares of Ferguson from $247.00 to $273.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $246.41.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.