BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stake in Ferguson plc $FERG

Key Points

• British Columbia Investment Management Corp increased its stake in Ferguson plc by 7.6%, acquiring an additional 24,099 shares, bringing its total ownership to 343,038 shares valued at approximately $54.97 million.
• Ferguson reported an earnings per share (EPS) of $2.50 for the last quarter, surpassing analysts' expectations by $0.44, with a revenue increase of 4.3% compared to the previous year.
• The company has a quarterly dividend of $0.83 per share, representing an annual yield of 1.4% and a payout ratio of 41.40%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Ferguson plc (NASDAQ:FERG - Free Report) by 7.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 343,038 shares of the company's stock after acquiring an additional 24,099 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.17% of Ferguson worth $54,965,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. US Bancorp DE raised its holdings in Ferguson by 0.8% during the first quarter. US Bancorp DE now owns 7,394 shares of the company's stock worth $1,185,000 after buying an additional 59 shares during the last quarter. Compound Planning Inc. boosted its stake in Ferguson by 4.6% during the 1st quarter. Compound Planning Inc. now owns 1,386 shares of the company's stock valued at $222,000 after purchasing an additional 61 shares during the last quarter. Mission Wealth Management LP increased its holdings in Ferguson by 2.2% during the 1st quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock worth $489,000 after purchasing an additional 67 shares in the last quarter. James Hambro & Partners LLP raised its stake in shares of Ferguson by 1.1% in the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock worth $1,011,000 after purchasing an additional 70 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Ferguson by 6.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after purchasing an additional 74 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. boosted their price target on shares of Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Oppenheimer increased their price objective on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Morgan Stanley restated an "overweight" rating and issued a $220.00 target price (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Finally, UBS Group upped their target price on Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. 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, the company presently has an average rating of "Moderate Buy" and a consensus target price of $220.64.

Ferguson Stock Performance

NASDAQ:FERG traded up $1.32 on Wednesday, reaching $235.24. 869,742 shares of the company's stock were exchanged, compared to its average volume of 1,690,729. The stock has a fifty day simple moving average of $223.54 and a 200-day simple moving average of $191.94. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $238.16. 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 firm has a market cap of $46.38 billion, a price-to-earnings ratio of 28.24, a P/E/G ratio of 1.69 and a beta of 1.16.

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

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th were paid a $0.83 dividend. The ex-dividend date was Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson's dividend payout ratio (DPR) is currently 41.40%.

About Ferguson

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.