Giverny Capital Increases Stake in Ferguson plc by 3.8%

Giverny Capital Inc. has increased its holdings in Ferguson plc by 3.8% during the second quarter of 2023, according to reports from HoldingsChannel. The institutional investor now owns 35,679 shares of the company, having acquired an additional 1,293 shares during the quarter. These holdings are valued at approximately $7,769,000 as of the end of June.

Several other institutional investors have also adjusted their positions in Ferguson. Smithfield Trust Co raised its stake by 3.5%, bringing its total to 1,342 shares valued at $291,000 after purchasing an additional 46 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake by 7.5%, now holding 690 shares worth $150,000 after acquiring 48 shares. Notably, Hemington Wealth Management boosted its holdings by an impressive 51.5%, owning 153 shares valued at $33,000 after purchasing 52 shares.

Other investors, including US Bancorp DE and Compound Planning Inc., have also made modest increases in their stakes. US Bancorp DE now owns 7,394 shares worth $1,185,000, while Compound Planning holds 1,386 shares valued at $222,000. Overall, institutional investors now own approximately 81.98% of Ferguson’s stock.

Ferguson’s Stock Performance and Dividends

On Friday, Ferguson’s shares opened at $251.67, with the stock having achieved a 12-month low of $146.00 and a high of $256.93. The company has a market capitalization of $49.32 billion and a price-to-earnings ratio of 26.95. Ferguson also announced a quarterly dividend of $0.83, paid on November 7, 2023, to investors of record on September 26, 2023. This dividend translates to an annualized total of $3.32, yielding approximately 1.3%. Ferguson’s current dividend payout ratio stands at 35.55%.

Analyst Ratings and Insider Activity

In recent weeks, various equity research analysts have updated their price targets for Ferguson. Wells Fargo & Company raised its target from $250.00 to $275.00, rating the stock as “overweight.” Similarly, Royal Bank of Canada increased its target from $231.00 to $243.00, while Oppenheimer lifted its target from $235.00 to $255.00. Currently, the consensus among analysts shows a “Moderate Buy” rating with an average price target of $243.75.

Insider trading activity has also been notable. James A. Paisley sold 3,000 shares on October 14, 2023, at an average price of $236.97, totaling $710,910.00. Following this transaction, he retained 2,211 shares, valued at approximately $523,940.67. Additionally, Ian T. Graham sold 4,864 shares on October 13, 2023, for a total of $1,134,382.08. Insiders have sold a total of 29,264 shares worth $6,853,349 over the past 90 days.

Ferguson Enterprises Inc. specializes in distributing plumbing and heating products across North America, providing a range of solutions and expertise to both residential and non-residential customers.

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