Argent Capital Management LLC Boosts Stock Position in Ferguson plc $FERG

Key Points

• Argent Capital Management LLC increased its stake in Ferguson plc by 1.3% in Q2 2023, bringing its total holdings to 155,097 shares worth approximately $33.77 million.
• Ferguson plc announced a quarterly dividend of $0.83 per share to be paid on November 7th, representing a 1.4% dividend yield.
• Several brokerages raised their price targets for Ferguson, with Barclays and Wells Fargo setting targets at $273 and $275 respectively, reflecting a positive outlook on the stock.

Argent Capital Management LLC boosted its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,097 shares of the company's stock after purchasing an additional 1,939 shares during the period. Argent Capital Management LLC owned about 0.08% of Ferguson worth $33,772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Oliver Luxxe Assets LLC lifted its holdings in Ferguson by 1.3% in the 2nd quarter. Oliver Luxxe Assets LLC now owns 18,893 shares of the company's stock worth $4,114,000 after buying an additional 247 shares during the period. Mechanics Bank Trust Department bought a new position in shares of Ferguson during the second quarter valued at approximately $265,000. GAMMA Investing LLC lifted its stake in Ferguson by 5.6% in the second quarter. GAMMA Investing LLC now owns 3,779 shares of the company's stock worth $823,000 after acquiring an additional 202 shares during the period. Ridgewood Investments LLC lifted its stake in Ferguson by 11.5% in the second quarter. Ridgewood Investments LLC now owns 1,697 shares of the company's stock worth $370,000 after acquiring an additional 175 shares during the period. Finally, Avanza Fonder AB bought a new stake in Ferguson in the second quarter valued at $3,380,000. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

FERG stock opened at $233.05 on Tuesday. The stock's 50 day simple moving average is $227.16 and its 200 day simple moving average is $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. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $243.40. The stock has a market capitalization of $45.95 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. Ferguson's dividend payout ratio (DPR) is 35.55%.

Analyst Ratings Changes

Several brokerages have commented on FERG. Robert W. Baird upped their price objective on shares of Ferguson from $260.00 to $262.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Berenberg Bank reiterated a "hold" rating and set a $215.00 price target on shares of Ferguson in a research report on Thursday, June 5th. Barclays raised their price objective on shares of Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Wells Fargo & Company lifted their price objective on Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. increased their target price on Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Ferguson presently has a consensus 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.

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