AG2R LA Mondiale Gestion D Actifs Invests $1.35 Million in Ferguson plc $FERG

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired a new stake in Ferguson plc, purchasing 8,394 shares worth approximately $1.35 million.
• Analysts are optimistic about Ferguson's future, with several issuing buy ratings and price targets ranging from $215 to $280.
• Ferguson recently announced a quarterly dividend of $0.83, representing an annualized yield of 1.6% for its shareholders.

AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,394 shares of the company's stock, valued at approximately $1,345,000.

Other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of Ferguson by 101.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock valued at $667,498,000 after buying an additional 2,094,029 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 buying an additional 1,755,464 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock valued at $1,227,410,000 after buying an additional 1,506,024 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Ferguson by 94.6% during the first quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock valued at $384,957,000 after buying an additional 1,167,751 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Ferguson by 769.5% during the first quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company's stock valued at $203,004,000 after buying an additional 1,121,249 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Price Performance

NASDAQ FERG traded up $0.13 on Friday, hitting $229.33. 2,885,933 shares of the company were exchanged, compared to its average volume of 1,770,834. The firm has a 50 day moving average of $226.91 and a two-hundred day moving average of $198.11. The company has a market cap of $45.22 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.69 and a beta of 1.15. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $243.40.

Ferguson Dividend Announcement

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

Analyst Ratings Changes

FERG has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target for the company. Robert W. Baird raised 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. Wells Fargo & Company lifted their price objective on shares of Ferguson from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Wednesday. Morgan Stanley reissued an "overweight" rating on shares of Ferguson in a research report on Wednesday, September 10th. Finally, Oppenheimer raised their price target on shares of Ferguson from $235.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Ferguson has an average rating of "Moderate Buy" and a consensus target price of $235.71.

Ferguson Company 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.