Empowered Funds LLC Purchases 14,338 Shares of Ferguson plc $FERG

Key Points

• Empowered Funds LLC increased its stake in Ferguson plc by 96.1% in Q1, bringing its total holdings to 29,251 shares valued at approximately $4.69 million.
• Ferguson recently announced a quarterly dividend of $0.83, with an expected yield of 1.5%, to be paid on November 7th to shareholders of record as of September 26th.
• The stock has a consensus rating of "Moderate Buy" among analysts, with a recent price target increase to $225 from $220 by JPMorgan Chase.

Empowered Funds LLC increased its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 96.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,251 shares of the company's stock after purchasing an additional 14,338 shares during the period. Empowered Funds LLC's holdings in Ferguson were worth $4,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. US Bancorp DE raised its stake in Ferguson by 0.8% during the 1st 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. increased its position in Ferguson by 4.6% during the first 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 last quarter. Mission Wealth Management LP lifted its holdings in Ferguson by 2.2% in the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock valued at $489,000 after acquiring an additional 67 shares during the period. James Hambro & Partners LLP boosted its position in 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, TD Private Client Wealth LLC boosted its position in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of FERG stock traded up $14.45 on Tuesday, reaching $228.98. The company's stock had a trading volume of 2,830,652 shares, compared to its average volume of 1,740,581. The stock's fifty day simple moving average is $226.45 and its 200-day simple moving average is $196.87. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40. The company has a market capitalization of $45.15 billion, a price-to-earnings ratio of 27.42, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio is presently 41.40%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Berenberg Bank reaffirmed a "hold" rating and set a $215.00 price target on shares of Ferguson in a research report on Thursday, June 5th. UBS Group upped their target price on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Barclays increased their price target on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group initiated coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price objective for the company. Finally, Oppenheimer raised their target price on Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $221.00.

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.