Charles Schwab Investment Management Inc. Has $143.98 Million Stock Holdings in Ferguson plc (NASDAQ:FERG)

Charles Schwab Investment Management Inc. boosted its stake in shares of Ferguson plc (NASDAQ:FERG) by 19.3% in the third quarter, HoldingsChannel reports. The firm owned 725,961 shares of the company’s stock after purchasing an additional 117,226 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Ferguson were worth $143,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Asset Dedication LLC bought a new stake in shares of Ferguson during the 3rd quarter worth about $27,000. EdgeRock Capital LLC bought a new stake in shares of Ferguson during the second quarter worth approximately $32,000. Capital Performance Advisors LLP acquired a new position in shares of Ferguson in the third quarter valued at approximately $37,000. Peterson Financial Group Inc. bought a new position in shares of Ferguson during the third quarter worth approximately $39,000. Finally, Reston Wealth Management LLC acquired a new stake in Ferguson during the 3rd quarter worth approximately $40,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on FERG shares. Barclays increased their price objective on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Royal Bank of Canada raised their price target on shares of Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 18th. Robert W. Baird increased their target price on shares of Ferguson from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. UBS Group lifted their price target on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Citigroup raised their price objective on Ferguson from $203.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $233.38.

Ferguson Stock Up 1.2 %

Shares of FERG opened at $208.94 on Monday. The firm has a 50 day simple moving average of $200.83 and a two-hundred day simple moving average of $202.61. The company has a market cap of $41.94 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.03 and a beta of 1.20. Ferguson plc has a one year low of $166.21 and a one year high of $225.63. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.80 and a quick ratio of 1.00.

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

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, September 27th. Ferguson’s dividend payout ratio (DPR) is presently 37.05%.

Insider Buying and Selling

In related news, insider Ian T. Graham sold 5,778 shares of the firm’s stock in a transaction on 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 owns 5,938 shares of the company’s stock, valued at $1,195,141.26. This trade represents a 49.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 value of $527,319.04. Following the completion of the transaction, the vice president now directly owns 1,116 shares of the company’s stock, valued at approximately $224,271.36. The trade was a 70.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,313 shares of company stock worth $2,477,901 in the last three months. 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.