Perpetual Ltd Acquires 117,991 Shares of Ferguson plc $FERG

Key Points

• Perpetual Ltd increased its holdings in Ferguson plc by 43.9% during the second quarter, owning a total of 386,888 shares valued at approximately $84.25 million.
• Ferguson plc recently announced a quarterly dividend of $0.83 per share, representing a 1.4% yield based on its current stock price.
• Wall Street analysts are optimistic about Ferguson, with ten analysts rating the stock a "Buy" and a consensus target price set at $235.71.

Perpetual Ltd raised its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 43.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 386,888 shares of the company's stock after purchasing an additional 117,991 shares during the quarter. Ferguson accounts for 1.0% of Perpetual Ltd's portfolio, making the stock its 29th largest position. Perpetual Ltd owned 0.20% of Ferguson worth $84,245,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. IFM Investors Pty Ltd grew its stake in Ferguson by 2.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 42,155 shares of the company's stock valued at $9,179,000 after purchasing an additional 1,204 shares in the last quarter. Canoe Financial LP grew its stake in Ferguson by 141.0% during the 2nd quarter. Canoe Financial LP now owns 4,938 shares of the company's stock valued at $1,075,000 after purchasing an additional 2,889 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in Ferguson during the 2nd quarter valued at approximately $270,000. Wealth Enhancement Advisory Services LLC grew its stake in Ferguson by 881.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 80,356 shares of the company's stock valued at $17,945,000 after purchasing an additional 72,168 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. grew its stake in Ferguson by 0.8% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 74,300 shares of the company's stock valued at $16,179,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Performance

Shares of NASDAQ FERG traded up $3.64 during trading hours on Monday, hitting $233.05. 2,277,311 shares of the company's stock were exchanged, compared to its average volume of 1,771,627. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $243.40. 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 capitalization of $45.95 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 1.69 and a beta of 1.15. The company's 50-day moving average price is $226.91 and its 200-day moving average price is $198.52.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson's dividend payout ratio is presently 35.55%.

Analysts Set New Price Targets

A number of brokerages have weighed in on FERG. The Goldman Sachs Group began coverage on Ferguson in a research note on Wednesday, June 18th. They set a "buy" rating and a $280.00 price objective for the company. Barclays boosted their price objective on Ferguson from $247.00 to $273.00 and gave the company an "overweight" rating in a research report on Thursday. UBS Group boosted their price target on Ferguson from $204.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 17th. Wells Fargo & Company boosted their price objective on Ferguson from $250.00 to $275.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 17th. Finally, Robert W. Baird boosted their price objective on Ferguson from $260.00 to $262.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.71.

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.