15,000 Shares in Ferguson plc $FERG Acquired by Mariner Investment Group LLC

Key Points

• Mariner Investment Group LLC acquired 15,000 shares of Ferguson plc, valued at approximately $3.27 million, making it the firm's 12th largest position.
• Institutional investors hold 81.98% of Ferguson's stock, with significant increases in holdings reported by Vanguard Group, Bank of New York Mellon, and T. Rowe Price.
• Ferguson's quarterly dividend of $0.83 per share will be paid on November 7th, reflecting an annualized dividend yield of 1.5% and a payout ratio of 35.55%.

Mariner Investment Group LLC purchased a new position in Ferguson plc (NASDAQ:FERG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,000 shares of the company's stock, valued at approximately $3,266,000. Ferguson comprises 1.2% of Mariner Investment Group LLC's investment portfolio, making the stock its 12th largest position.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Ferguson by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock worth $3,071,408,000 after purchasing an additional 806,718 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Ferguson by 24.5% in the 1st quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after purchasing an additional 1,506,024 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Ferguson by 13.8% in the 1st quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock worth $1,092,576,000 after purchasing an additional 827,355 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ferguson by 65.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock worth $713,740,000 after purchasing an additional 1,755,464 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of 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 purchasing an additional 2,094,029 shares during the last quarter. Institutional investors own 81.98% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on FERG shares. Truist Financial raised their price target on Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. raised their target price on Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Berenberg Bank restated a "hold" rating and issued a $215.00 target price on shares of Ferguson in a research report on Thursday, June 5th. Royal Bank Of Canada raised their target price on Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Finally, The Goldman Sachs Group began coverage on Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Ferguson presently has an average rating of "Moderate Buy" and an average price target of $235.71.

Ferguson Stock Up 0.2%

Shares of FERG stock opened at $225.80 on Friday. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40. The stock has a market cap of $44.52 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The business's fifty day moving average is $227.85 and its 200-day moving average is $200.28. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.5%. Ferguson's dividend payout ratio (DPR) is 35.55%.

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.

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