KLP Kapitalforvaltning AS Grows Stock Holdings in Ferguson plc $FERG

KLP Kapitalforvaltning AS increased its position in Ferguson plc (NYSE:FERG) by 32.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 94,744 shares of the company’s stock after buying an additional 23,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in Ferguson were worth $21,328,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FERG. True Wealth Design LLC raised its holdings in Ferguson by 145.3% during the second quarter. True Wealth Design LLC now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 77 shares during the period. Hemington Wealth Management grew its position in shares of Ferguson by 51.5% during the second quarter. Hemington Wealth Management now owns 153 shares of the company’s stock worth $33,000 after purchasing an additional 52 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Ferguson by 230.8% during the second quarter. Fifth Third Bancorp now owns 172 shares of the company’s stock worth $37,000 after purchasing an additional 120 shares in the last quarter. Maseco LLP bought a new stake in Ferguson during the 2nd quarter valued at approximately $40,000. Finally, Harbour Investments Inc. raised its stake in Ferguson by 61.3% during the 2nd quarter. Harbour Investments Inc. now owns 242 shares of the company’s stock valued at $53,000 after purchasing an additional 92 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on FERG shares. Wells Fargo & Company upped their price target on Ferguson from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, December 4th. Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a research report on Wednesday, October 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $288.00 target price on shares of Ferguson in a research note on Wednesday, December 10th. Barclays reduced their price target on shares of Ferguson from $273.00 to $267.00 and set an “overweight” rating on the stock in a report on Wednesday, December 10th. Finally, UBS Group decreased their price target on shares of Ferguson from $225.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and an average price target of $252.06.

Ferguson News Roundup

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Quarterly fundamentals beat consensus and showed revenue growth and strong ROE, supporting the company’s mid-cycle earnings resilience and helping justify current valuation despite recent share weakness.
• Neutral Sentiment: Market commentary piece reviews investor/short-seller sentiment toward Ferguson (Ferguson Enterprises / market views). This kind of analysis can influence near-term trading flows but does not change Ferguson plc’s reported results. What Does the Market Think About Ferguson Enterprises Inc?
• Neutral Sentiment: Local/state government story mentioning “Gov. Ferguson” (ferry plan) is unrelated to Ferguson plc’s business and should not affect the stock’s fundamentals. Gov. Ferguson’s ferry plan tested by three broken boats
• Neutral Sentiment: Several entertainment/celebrity articles reference Sarah Ferguson (royal family coverage) — not related to the company’s operations or outlook. Sarah Ferguson was ‘lonely, deeply unhappy’ in Andrew marriage Sarah Ferguson sets sights on new chapter amid Royal Lodge eviction Sarah Ferguson’s nickname for the late queen revealed
• Neutral Sentiment: Multiple sports stories concern people named Ferguson (Evan Ferguson, Sir Alex Ferguson comparisons, player paternity leave) and do not pertain to Ferguson plc’s business. These are unlikely to move the stock. Ferguson and Dovbyk fire Roma to win at Lecce Evan Ferguson scores as Roma move up to fourth Ferguson, Henry may take paternity leave during T20 World Cup

Insider Buying and Selling

In related news, insider Kevin Michael Murphy sold 8,800 shares of Ferguson stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $234.13, for a total value of $2,060,344.00. Following the completion of the transaction, the insider owned 159,931 shares in the company, valued at approximately $37,444,645.03. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider James A. Paisley sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $236.97, for a total value of $710,910.00. Following the sale, the insider owned 2,211 shares in the company, valued at approximately $523,940.67. This trade represents a 57.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,264 shares of company stock valued at $6,853,349 in the last quarter. 0.18% of the stock is currently owned by insiders.

Ferguson Trading Down 1.6%

FERG stock opened at $222.32 on Thursday. The firm has a fifty day moving average price of $237.70 and a 200 day moving average price of $231.81. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $256.93. The firm has a market cap of $43.48 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.89 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. Ferguson had a net margin of 6.28% and a return on equity of 35.73%. The company had revenue of $8.17 billion for the quarter. During the same period in the previous year, the company earned $2.45 EPS. Ferguson’s revenue for the quarter was up 5.1% compared to the same quarter last year.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, January 2nd will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, January 2nd. This is a positive change from Ferguson’s previous quarterly dividend of $0.83. Ferguson’s payout ratio is 35.96%.

Ferguson Profile

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.