CCM Investment Group LLC acquired a new stake in Ferguson plc (NASDAQ:FERG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 14,807 shares of the company's stock, valued at approximately $2,377,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust raised its stake in shares of Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after buying an additional 141 shares during the last quarter. Whipplewood Advisors LLC grew its position in shares of Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after purchasing an additional 74 shares in the last quarter. LGT Financial Advisors LLC increased its stake in shares of Ferguson by 106.3% during the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after purchasing an additional 102 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Ferguson during the 1st quarter worth approximately $46,000. 81.98% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Wells Fargo & Company lifted their price objective on Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Morgan Stanley restated an "overweight" rating and set a $220.00 price objective (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Finally, Berenberg Bank restated a "hold" rating and set a $215.00 target price on shares of Ferguson in a research report on Thursday, June 5th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Ferguson currently has an average rating of "Moderate Buy" and an average target price of $220.64.
Check Out Our Latest Report on Ferguson
Ferguson Stock Up 1.6%
NASDAQ FERG traded up $3.54 on Tuesday, reaching $226.16. The company had a trading volume of 775,208 shares, compared to its average volume of 1,730,293. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $228.80. The firm has a market capitalization of $44.59 billion, a PE ratio of 27.15, a P/E/G ratio of 1.69 and a beta of 1.16. 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 50-day moving average of $220.04 and a 200-day moving average of $188.48.
Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. Ferguson's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.32 earnings per share. On average, equities research analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.
Ferguson Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th were paid a dividend of $0.83 per share. The ex-dividend date was Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.5%. Ferguson's payout ratio is presently 41.40%.
About Ferguson
(
Free Report)
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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