66,200 Shares in Ferguson plc (NASDAQ:FERG) Purchased by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp has acquired a new position in Ferguson plc, buying 66,200 shares valued at approximately $10.6 million in the 1st quarter.
• Ferguson recently announced a quarterly dividend of $0.83 per share, with an annualized yield of 1.5%, to be paid on August 6th.
• Analysts have a current average rating of "Moderate Buy" for Ferguson, with a price target averaging $220.64, after several upgrades by key financial institutions.

Alberta Investment Management Corp acquired a new position in Ferguson plc (NASDAQ:FERG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 66,200 shares of the company's stock, valued at approximately $10,607,000.

Several other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its stake in Ferguson by 4.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,481 shares of the company's stock worth $604,000 after purchasing an additional 147 shares in the last quarter. LPL Financial LLC lifted its holdings in Ferguson by 0.8% in the fourth quarter. LPL Financial LLC now owns 50,779 shares of the company's stock valued at $8,814,000 after acquiring an additional 387 shares during the last quarter. National Bank of Canada FI grew its position in Ferguson by 135.5% in the fourth quarter. National Bank of Canada FI now owns 24,962 shares of the company's stock worth $4,335,000 after acquiring an additional 14,361 shares during the period. Geode Capital Management LLC grew its position in Ferguson by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,215,657 shares of the company's stock worth $557,082,000 after acquiring an additional 18,036 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in Ferguson by 1,137.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 89,826 shares of the company's stock worth $15,591,000 after acquiring an additional 82,568 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FERG. Berenberg Bank reiterated a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Morgan Stanley reiterated an "overweight" rating and issued a $220.00 price objective (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Oppenheimer boosted their target price on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Wells Fargo & Company boosted their target price on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Royal Bank Of Canada boosted their target price on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Stock Up 1.4%

Shares of FERG stock traded up $3.19 on Monday, reaching $225.34. 715,235 shares of the stock were exchanged, compared to its average volume of 1,759,918. 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 business's 50 day moving average price is $214.64 and its 200 day moving average price is $186.40. The company has a market capitalization of $44.43 billion, a price-to-earnings ratio of 27.05, a PEG 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 $228.80.

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

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, June 20th. This represents a $3.32 annualized dividend and a dividend yield of 1.5%. Ferguson's dividend payout ratio is 41.40%.

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.