Boston Common Asset Management LLC Buys 1,369 Shares of Ferguson plc $FERG

Key Points

• Boston Common Asset Management LLC increased its stake in Ferguson plc by 75.1%, acquiring 1,369 additional shares, bringing their total to 3,192 shares valued at approximately $695,000.
• Ferguson announced a quarterly dividend of $0.83 per share, with a payout ratio of 35.55% and a yield of 1.4%, set to be paid on November 7th.
• Analysts have a consensus rating of "Moderate Buy" for Ferguson with an average price target of $235.71, reflecting increasing confidence in the company's stock performance.

Boston Common Asset Management LLC grew its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 75.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,192 shares of the company's stock after buying an additional 1,369 shares during the quarter. Boston Common Asset Management LLC's holdings in Ferguson were worth $695,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Untitled Investments LP bought a new stake in Ferguson during the 1st quarter worth approximately $5,953,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Ferguson by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,932,959 shares of the company's stock worth $309,718,000 after purchasing an additional 205,531 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ferguson by 14.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock worth $928,000 after purchasing an additional 722 shares during the last quarter. Fiera Capital Corp increased its holdings in Ferguson by 37.5% in the first quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock valued at $2,090,000 after purchasing an additional 3,559 shares during the period. Finally, Empower Advisory Group LLC bought a new position in Ferguson during the 1st quarter worth $843,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Performance

Shares of FERG stock opened at $231.93 on Monday. Ferguson plc has a one year low of $146.00 and a one year high of $243.40. The firm has a 50-day moving average of $228.25 and a 200-day moving average of $203.18. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The company has a market cap of $45.49 billion, a P/E ratio of 27.84, a P/E/G ratio of 1.69 and a beta of 1.17.

Ferguson Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FERG shares. Royal Bank Of Canada upped their price target on Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Barclays lifted their price objective on Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a research note on Thursday, September 18th. Truist Financial increased their target price on shares of Ferguson from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. Oppenheimer boosted their price target on shares of Ferguson from $235.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Finally, The Goldman Sachs Group began coverage on shares of Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective on the stock. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.

Want to see what other hedge funds are holding FERG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferguson plc (NASDAQ:FERG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.