Ground Swell Capital LLC Takes $299,000 Position in Ferguson plc (NASDAQ:FERG)

Key Points

• Ground Swell Capital LLC has acquired 1,865 shares of Ferguson plc, valued at approximately $299,000, indicating growing interest from institutional investors.
• Ferguson plc has seen its stock ratings upgraded by several analysts, with Barclays and Wells Fargo raising target prices to $247.00 and $250.00 respectively, signaling positive market sentiment.
• In its latest quarterly earnings report, Ferguson reported an EPS of $2.50, exceeding expectations and showcasing a revenue increase of 4.3% year-over-year.

Ground Swell Capital LLC acquired a new position in shares of Ferguson plc (NASDAQ:FERG - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,865 shares of the company's stock, valued at approximately $299,000.

Several other hedge funds have also recently bought and sold shares of the business. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Ferguson by 22.2% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,400 shares of the company's stock worth $7,755,000 after buying an additional 8,800 shares during the last quarter. National Pension Service increased its position in Ferguson by 16.4% during the first quarter. National Pension Service now owns 303,251 shares of the company's stock worth $48,590,000 after buying an additional 42,665 shares during the last quarter. Resona Asset Management Co. Ltd. increased its position in Ferguson by 5.0% during the first quarter. Resona Asset Management Co. Ltd. now owns 68,835 shares of the company's stock worth $11,032,000 after buying an additional 3,286 shares during the last quarter. Rathbones Group PLC increased its position in Ferguson by 4.1% during the first quarter. Rathbones Group PLC now owns 940,427 shares of the company's stock worth $150,550,000 after buying an additional 37,351 shares during the last quarter. Finally, Westpac Banking Corp acquired a new position in Ferguson during the first quarter worth $97,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FERG shares. JPMorgan Chase & Co. raised their price target on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Wells Fargo & Company raised their price target on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Barclays raised their price target on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group started coverage on Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target on the stock. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 price target (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Stock Performance

FERG stock traded up $3.69 during trading on Friday, reaching $231.71. 1,686,819 shares of the stock were exchanged, compared to its average volume of 1,723,971. 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 50 day simple moving average of $220.99 and a 200-day simple moving average of $189.48. The company has a market capitalization of $45.69 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $232.11.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same period last year, the company posted $2.32 EPS. The business's quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, June 20th. Ferguson's dividend payout ratio is currently 41.40%.

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.