Avanza Fonder AB Purchases New Shares in Ferguson plc $FERG

Key Points

• Avanza Fonder AB has acquired 15,524 shares of Ferguson plc, valued at approximately $3,380,000, as indicated in their recent 13F filing with the SEC.
• Several brokerages, including Truist Financial and Barclays, have raised their price targets for Ferguson, with the average price target currently at $235.71.
• Ferguson has announced a quarterly dividend of $0.83 per share, representing a yield of 1.4%, to be paid on November 7th, with a payout ratio of 35.55%.

Avanza Fonder AB acquired a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 15,524 shares of the company's stock, valued at approximately $3,380,000.

Other large investors also recently made changes to their positions in the company. Grove Bank & Trust boosted its holdings in shares of Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after buying an additional 141 shares during the period. TD Private Client Wealth LLC raised its position in shares of Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Whipplewood Advisors LLC grew its holdings in shares of Ferguson by 166.7% during the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after purchasing an additional 130 shares in the last quarter. Brooklyn Investment Group lifted its stake in shares of Ferguson by 103.6% in the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock valued at $36,000 after acquiring an additional 115 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in Ferguson in the first quarter worth about $43,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on FERG shares. Robert W. Baird raised their target price on shares of Ferguson from $260.00 to $262.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Royal Bank Of Canada increased 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. UBS Group upped their price objective on shares of Ferguson from $204.00 to $225.00 and gave the stock a "neutral" rating in a report on Wednesday, September 17th. Morgan Stanley reissued an "overweight" rating on shares of Ferguson in a research report on Wednesday, September 10th. Finally, Wells Fargo & Company raised their price objective on Ferguson from $250.00 to $275.00 and gave the company an "overweight" 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $235.71.

Ferguson Price Performance

Shares of Ferguson stock traded up $3.64 during trading on Monday, reaching $233.05. The company's stock had a trading volume of 2,277,412 shares, compared to its average volume of 1,773,648. The stock has a 50-day moving average price of $227.16 and a two-hundred day moving average price of $198.98. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $45.95 billion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. Ferguson plc has a one year low of $146.00 and a one year high of $243.40.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson's dividend payout ratio is 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.