DAVENPORT & Co LLC Has $12.67 Million Position in Ferguson plc $FERG

Key Points

• DAVENPORT & Co LLC increased its holdings in Ferguson plc by 65.5%, raising their position to $12.67 million in value by the end of the second quarter.
• Ferguson reported earnings per share (EPS) of $3.48 for the quarter, exceeding analysts' expectations of $3.00.
• The company declared a quarterly dividend of $0.83 per share, with a dividend yield of 1.4%, set to be paid on November 7th.

DAVENPORT & Co LLC grew its position in Ferguson plc (NYSE:FERG - Free Report) by 65.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,172 shares of the company's stock after acquiring an additional 23,023 shares during the period. DAVENPORT & Co LLC's holdings in Ferguson were worth $12,667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE lifted its position in shares of Ferguson by 0.8% in the first quarter. US Bancorp DE now owns 7,394 shares of the company's stock valued at $1,185,000 after buying an additional 59 shares during the last quarter. Compound Planning Inc. raised its stake in Ferguson by 4.6% in the 1st quarter. Compound Planning Inc. now owns 1,386 shares of the company's stock valued at $222,000 after acquiring an additional 61 shares during the period. Mission Wealth Management LP lifted 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 valued at $489,000 after purchasing an additional 67 shares during the last quarter. James Hambro & Partners LLP boosted its position in Ferguson by 1.1% during 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 period. Finally, TD Private Client Wealth LLC increased its holdings in shares of Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. 81.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

FERG has been the topic of a number of research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Ferguson in a research note on Saturday, September 27th. Oppenheimer upped their target price on Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Robert W. Baird lifted their price target on Ferguson from $260.00 to $262.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Barclays upped their price objective on Ferguson from $247.00 to $273.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Finally, 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 report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Ferguson presently has an average rating of "Moderate Buy" and a consensus target price of $235.71.

Ferguson Stock Performance

NYSE:FERG opened at $234.87 on Tuesday. The company has a market cap of $46.07 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $243.40. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. The firm's fifty day moving average is $228.41.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, beating analysts' consensus estimates of $3.00 by $0.48. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.44 billion. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.

Ferguson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders 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 dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson's dividend payout ratio is 35.55%.

About Ferguson

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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