Ballentine Partners LLC Takes Position in Ferguson plc $FERG

Key Points

• Ballentine Partners LLC recently acquired 1,197 shares of Ferguson plc, valued at approximately $261,000, during the second quarter, highlighting increased institutional interest in the company.
• Ferguson has announced a quarterly dividend of $0.83, payable on November 7th, representing an annualized dividend of $3.32 and a yield of 1.5%, with a payout ratio of 35.55%.
• Wall Street analysts show optimism for Ferguson, with several firms raising their target prices; Wells Fargo increased their target to $275, and the stock holds a consensus rating of "Moderate Buy" with an average price target of $235.71.

Ballentine Partners LLC purchased a new stake in Ferguson plc (NASDAQ:FERG - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,197 shares of the company's stock, valued at approximately $261,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Accurate Wealth Management LLC acquired a new stake in shares of Ferguson in the second quarter valued at about $260,000. Maseco LLP acquired a new stake in Ferguson during the second quarter worth about $40,000. Fifth Third Bancorp grew its position in Ferguson by 230.8% during the second quarter. Fifth Third Bancorp now owns 172 shares of the company's stock worth $37,000 after buying an additional 120 shares in the last quarter. Argent Capital Management LLC grew its position in Ferguson by 1.3% during the second quarter. Argent Capital Management LLC now owns 155,097 shares of the company's stock worth $33,772,000 after buying an additional 1,939 shares in the last quarter. Finally, Oliver Luxxe Assets LLC grew its position in Ferguson by 1.3% during the second 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 in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Down 0.6%

Shares of FERG opened at $224.46 on Tuesday. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $243.40. The company has a 50-day moving average price of $227.94 and a two-hundred day moving average price of $201.36. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock has a market cap of $44.26 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson Announces Dividend

The company also recently announced 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 is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson's payout ratio is 35.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FERG shares. Royal Bank Of Canada lifted their target price on Ferguson from $231.00 to $243.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Morgan Stanley reissued an "overweight" rating on shares of Ferguson in a research report on Wednesday, September 10th. Wells Fargo & Company lifted their target price on Ferguson from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 17th. Truist Financial lifted their target price on Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. Finally, Barclays lifted their target price on Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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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