Westfield Capital Management Co. LP Raises Stock Holdings in Ferguson plc (NASDAQ:FERG)

Westfield Capital Management Co. LP raised its stake in shares of Ferguson plc (NASDAQ:FERG) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,358 shares of the company’s stock after buying an additional 534 shares during the period. Westfield Capital Management Co. LP’s holdings in Ferguson were worth $6,227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of FERG. Algert Global LLC bought a new position in Ferguson in the third quarter valued at about $1,249,000. Cerity Partners LLC increased its position in shares of Ferguson by 176.6% during the 3rd quarter. Cerity Partners LLC now owns 10,147 shares of the company’s stock valued at $2,015,000 after purchasing an additional 6,479 shares during the last quarter. Eagle Asset Management Inc. increased its position in shares of Ferguson by 79.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 646,954 shares of the company’s stock valued at $134,217,000 after purchasing an additional 286,691 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Ferguson by 19.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 725,961 shares of the company’s stock worth $143,983,000 after purchasing an additional 117,226 shares during the period. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Ferguson by 13.1% in the third quarter. Thompson Siegel & Walmsley LLC now owns 25,882 shares of the company’s stock worth $5,139,000 after purchasing an additional 3,000 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

Shares of Ferguson stock opened at $208.94 on Monday. The stock has a market cap of $41.94 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.00 and a current ratio of 1.80. The stock has a 50 day moving average price of $200.83 and a 200-day moving average price of $202.61. Ferguson plc has a one year low of $166.21 and a one year high of $225.63.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.86 by $0.12. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The company had revenue of $7.95 billion during the quarter, compared to analyst estimates of $8.01 billion. During the same period in the previous year, the firm earned $2.77 earnings per share. Ferguson’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities analysts expect that Ferguson plc will post 9.77 EPS for the current year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, September 27th. Ferguson’s dividend payout ratio (DPR) is currently 37.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FERG shares. Robert W. Baird boosted their price target on Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Royal Bank of Canada raised their price objective on Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Oppenheimer began coverage on Ferguson in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 target price on the stock. Barclays raised their price target on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Finally, Citigroup upped their price objective on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Insider Buying and Selling at Ferguson

In other Ferguson news, SVP Garland Williams sold 1,118 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $201.22, for a total value of $224,963.96. Following the completion of the sale, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at $378,696.04. The trade was a 37.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael Jacobs sold 2,624 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the transaction, the vice president now owns 1,116 shares in the company, valued at $224,271.36. This represents a 70.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,313 shares of company stock worth $2,477,901 over the last 90 days. Company insiders own 0.16% of the company’s stock.

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.