1,218 Shares in Ferguson plc $FERG Acquired by Mechanics Bank Trust Department

Key Points

• Mechanics Bank Trust Department has acquired 1,218 shares of Ferguson plc, valued at approximately $265,000, indicating growing institutional interest in the company.
• Ferguson recently declared a quarterly dividend of $0.83 per share, with an annualized yield of 1.4% and a payout ratio of 35.55%.
• Analysts maintain a consensus rating of "Moderate Buy" on Ferguson shares, with an average price target of $235.71, reflecting positive sentiment towards the company's future performance.

Mechanics Bank Trust Department acquired a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,218 shares of the company's stock, valued at approximately $265,000.

A number of other institutional investors have also recently modified their holdings of FERG. Vanguard Group Inc. grew its position in Ferguson by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock valued at $3,071,408,000 after purchasing an additional 806,718 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Ferguson by 24.5% in the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after buying an additional 1,506,024 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Ferguson by 13.8% during the first quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock valued at $1,092,576,000 after buying an additional 827,355 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Ferguson by 65.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock valued at $713,740,000 after acquiring an additional 1,755,464 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in Ferguson by 101.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock worth $667,498,000 after acquiring an additional 2,094,029 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on FERG. Berenberg Bank reiterated a "hold" rating and set a $215.00 target price on shares of Ferguson in a research note on Thursday, June 5th. Oppenheimer increased their price objective on Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Morgan Stanley reissued an "overweight" rating on shares of Ferguson in a research report on Wednesday, September 10th. Robert W. Baird upped their target price on shares of Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Finally, Truist Financial lifted their price target on shares of Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $235.71.

Ferguson Trading Up 1.6%

Ferguson stock opened at $233.05 on Tuesday. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40. The firm's 50 day moving average price is $227.16 and its 200-day moving average price is $198.98. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a market cap of $45.95 billion, a P/E ratio of 27.98, a PEG ratio of 1.69 and a beta of 1.15.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson's payout ratio is presently 35.55%.

About Ferguson

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.

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