Ferguson plc (NASDAQ:FERG) Shares Acquired by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. increased its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 24.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,242,302 shares of the company's stock after purchasing an additional 443,247 shares during the quarter. Ferguson makes up approximately 1.6% of Diamond Hill Capital Management Inc.'s investment portfolio, making the stock its 22nd biggest position. Diamond Hill Capital Management Inc. owned approximately 1.12% of Ferguson worth $359,284,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Ferguson by 14.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock valued at $928,000 after acquiring an additional 722 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Ferguson by 24.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock worth $544,000 after purchasing an additional 657 shares during the last quarter. Manning & Napier Advisors LLC increased its holdings in shares of Ferguson by 40.3% in the first quarter. Manning & Napier Advisors LLC now owns 35,015 shares of the company's stock worth $5,610,000 after purchasing an additional 10,064 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Ferguson by 3,777.8% in the first quarter. Nisa Investment Advisors LLC now owns 17,450 shares of the company's stock worth $2,810,000 after purchasing an additional 17,000 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Ferguson in the first quarter worth about $932,000. 81.98% of the stock is owned by institutional investors.

Ferguson Trading Up 0.2%

Shares of NASDAQ:FERG traded up $0.39 during trading hours on Friday, hitting $224.08. 1,110,373 shares of the company's stock traded hands, compared to its average volume of 1,793,970. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $227.73. The business has a fifty day moving average price of $210.19 and a 200-day moving average price of $184.53. The firm has a market capitalization of $44.18 billion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

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%. During the same quarter in the prior year, the firm earned $2.32 earnings per share. The firm's revenue was up 4.3% on a year-over-year basis. Equities analysts expect that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Friday, June 20th. Ferguson's dividend payout ratio is presently 41.40%.

Analysts Set New Price Targets

FERG has been the topic of several research reports. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 target price (up from $195.00) on shares of Ferguson in a report on Monday, June 9th. Truist Financial reaffirmed a "buy" rating and issued a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. Berenberg Bank reaffirmed a "hold" rating and issued a $215.00 target price on shares of Ferguson in a report on Thursday, June 5th. JPMorgan Chase & Co. lifted their target price on Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, Wells Fargo & Company lifted their price target on Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.