Canal Capital Management LLC Acquires 1,817 Shares of Ferguson plc (NASDAQ:FERG)

Canal Capital Management LLC lifted its holdings in shares of Ferguson plc (NASDAQ:FERG) by 5.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,352 shares of the company’s stock after purchasing an additional 1,817 shares during the quarter. Ferguson comprises approximately 1.2% of Canal Capital Management LLC’s holdings, making the stock its 27th biggest position. Canal Capital Management LLC’s holdings in Ferguson were worth $7,417,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FERG. Atlas Capital Advisors LLC acquired a new position in Ferguson in the 1st quarter valued at about $193,000. Wealth Enhancement Advisory Services LLC grew its holdings in Ferguson by 26.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 33,508 shares of the company’s stock valued at $7,319,000 after buying an additional 6,997 shares in the last quarter. OneAscent Financial Services LLC increased its position in Ferguson by 1.9% during the 1st quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock worth $565,000 after buying an additional 49 shares during the period. MCF Advisors LLC acquired a new stake in shares of Ferguson during the first quarter worth $47,000. Finally, Applied Capital LLC FL grew its stake in shares of Ferguson by 5.2% in the first quarter. Applied Capital LLC FL now owns 7,275 shares of the company’s stock valued at $1,589,000 after acquiring an additional 362 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Performance

Ferguson stock opened at $198.04 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 stock has a market cap of $39.75 billion, a PE ratio of 23.26, a P/E/G ratio of 3.28 and a beta of 1.20. Ferguson plc has a 12-month low of $147.62 and a 12-month high of $225.63. The business’s 50-day moving average price is $200.30 and its two-hundred day moving average price is $204.56.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a net margin of 5.85% and a return on equity of 36.53%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.77 EPS. As a group, analysts expect that Ferguson plc will post 9.86 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders 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 dividend yield of 1.60%. The ex-dividend date is Friday, September 27th. Ferguson’s payout ratio is 37.05%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. UBS Group boosted their price target on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Royal Bank of Canada raised their price objective on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Barclays upped their target price on Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company decreased their price target on Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $232.50.

Insider Activity at Ferguson

In other Ferguson news, insider Ian T. Graham sold 5,778 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.27, for a total value of $1,162,938.06. Following the completion of the transaction, the insider now owns 5,938 shares of the company’s stock, valued at $1,195,141.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Ian T. Graham sold 5,778 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $201.27, for a total transaction of $1,162,938.06. Following the sale, the insider now directly owns 5,938 shares in the company, valued at approximately $1,195,141.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Garland Williams sold 1,118 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 1,882 shares of the company’s stock, valued at $378,696.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,313 shares of company stock valued at $2,477,901 in the last 90 days. 0.16% of the stock is owned by corporate insiders.

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.