Close Asset Management Ltd Takes Position in Ferguson plc (NASDAQ:FERG)

Close Asset Management Ltd acquired a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,565 shares of the company's stock, valued at approximately $411,000.

A number of other institutional investors have also recently made changes to their positions in FERG. FMR LLC raised its stake in shares of Ferguson by 18.2% during the fourth quarter. FMR LLC now owns 10,007,892 shares of the company's stock valued at $1,740,049,000 after acquiring an additional 1,539,889 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock valued at $1,227,410,000 after acquiring an additional 1,506,024 shares in the last quarter. Invesco Ltd. raised its stake in shares of Ferguson by 25.9% during the fourth quarter. Invesco Ltd. now owns 5,991,445 shares of the company's stock valued at $1,039,935,000 after acquiring an additional 1,231,120 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Ferguson by 1.3% during the fourth quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock valued at $856,746,000 after acquiring an additional 62,887 shares in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in shares of Ferguson by 29.6% during the first quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock valued at $582,452,000 after acquiring an additional 831,112 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

Ferguson stock opened at $222.81 on Wednesday. The firm has a 50 day simple moving average of $205.75 and a 200-day simple moving average of $182.84. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $226.63. 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 stock has a market cap of $43.93 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.32 earnings per share. On average, analysts expect that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.49%. Ferguson's payout ratio is 41.40%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on FERG shares. Oppenheimer lifted their price target on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 price target (up from $195.00) on shares of Ferguson in a report on Monday, June 9th. Barclays lifted their price target on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. The Goldman Sachs Group started coverage on shares of Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson 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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