Ferguson plc $FERG Stake Lessened by Ethic Inc.

Key Points

• Ethic Inc. reduced its stake in Ferguson plc by 6.3% in the first quarter, holding 17,124 shares worth approximately $2.75 million after selling 1,152 shares.
• Ferguson plc reported a $2.50 EPS for the latest quarter, exceeding the consensus estimate of $2.06, with revenues up 4.3% year-over-year.
• Several analysts have raised their price targets for Ferguson, with Wells Fargo increasing its target from $230 to $250, contributing to a current consensus rating of "Moderate Buy."

Ethic Inc. decreased its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,124 shares of the company's stock after selling 1,152 shares during the period. Ethic Inc.'s holdings in Ferguson were worth $2,753,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ferguson by 14.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock worth $928,000 after purchasing an additional 722 shares during the last quarter. Fiera Capital Corp lifted its position in shares of Ferguson by 37.5% during the first quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock worth $2,090,000 after purchasing an additional 3,559 shares during the last quarter. Empower Advisory Group LLC bought a new position in shares of Ferguson during the first quarter worth about $843,000. Ground Swell Capital LLC bought a new position in shares of Ferguson during the first quarter worth about $299,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Ferguson by 24.0% during 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. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

Shares of NASDAQ:FERG traded up $4.38 during trading hours on Friday, hitting $233.44. The stock had a trading volume of 1,258,038 shares, compared to its average volume of 1,700,934. The stock's fifty day simple moving average is $222.30 and its 200 day simple moving average is $190.77. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $238.16. The firm has a market capitalization of $46.03 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 1.69 and a beta of 1.16. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 EPS 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 period last year, the company earned $2.32 EPS. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th were issued a $0.83 dividend. The ex-dividend date was Friday, June 20th. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. Ferguson's dividend payout ratio (DPR) is 41.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Berenberg Bank reiterated a "hold" rating and set a $215.00 price objective on shares of Ferguson in a research note on Thursday, June 5th. Royal Bank Of Canada increased their price objective on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Wells Fargo & Company increased their price objective on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. UBS Group increased their price objective on shares of Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, June 6th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson Company 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.