Drive Wealth Management LLC Sells 78 Shares of Ferguson plc (NASDAQ:FERG)

Drive Wealth Management LLC cut its holdings in Ferguson plc (NASDAQ:FERG) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,085 shares of the company’s stock after selling 78 shares during the period. Drive Wealth Management LLC’s holdings in Ferguson were worth $216,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FERG. Frank Rimerman Advisors LLC raised its holdings in Ferguson by 1.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 3,307 shares of the company’s stock valued at $657,000 after buying an additional 57 shares during the period. Transatlantique Private Wealth LLC increased its position in Ferguson by 3.0% during the second quarter. Transatlantique Private Wealth LLC now owns 2,035 shares of the company’s stock valued at $394,000 after acquiring an additional 60 shares during the last quarter. Mayflower Financial Advisors LLC raised its stake in shares of Ferguson by 3.2% in the third quarter. Mayflower Financial Advisors LLC now owns 1,952 shares of the company’s stock valued at $388,000 after acquiring an additional 61 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Ferguson by 3.8% in the 2nd quarter. GAMMA Investing LLC now owns 2,130 shares of the company’s stock worth $412,000 after acquiring an additional 78 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Ferguson by 33.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 364 shares of the company’s stock worth $72,000 after purchasing an additional 92 shares during the period. Institutional investors own 81.98% of the company’s stock.

Insider Transactions at Ferguson

In related news, VP Michael Jacobs sold 2,624 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $200.96, for a total transaction of $527,319.04. Following the completion of the sale, the vice president now owns 1,116 shares of the company’s stock, valued at $224,271.36. This represents a 70.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Victoria Morrissey sold 1,468 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.20, for a total value of $295,361.60. Following the transaction, the chief marketing officer now owns 5,205 shares in the company, valued at approximately $1,047,246. This trade represents a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,313 shares of company stock valued at $2,477,901. Corporate insiders own 0.16% of the company’s stock.

Ferguson Stock Performance

Shares of Ferguson stock opened at $200.83 on Tuesday. Ferguson plc has a 12 month low of $164.22 and a 12 month high of $225.63. The stock’s fifty day moving average price is $199.66 and its 200-day moving average price is $202.99. The firm has a market cap of $40.31 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.94 and a beta of 1.20. The company has a current ratio of 1.80, a quick ratio of 1.00 and a debt-to-equity ratio of 0.89.

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

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a dividend of $0.79 per share. The ex-dividend date was Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 1.57%. Ferguson’s dividend payout ratio is currently 37.05%.

Analyst Ratings Changes

A number of analysts recently weighed in on FERG shares. Oppenheimer initiated coverage on shares of Ferguson in a research report on Wednesday, October 23rd. They issued an “outperform” rating and a $234.00 price objective on the stock. Royal Bank of Canada upped 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. Wells Fargo & Company lifted their target price on Ferguson from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Citigroup boosted their target price on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Finally, Robert W. Baird raised their price target on shares of Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $233.38.

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.