Rivermont Capital Management LP Buys 37,227 Shares of Ferguson plc $FERG

Key Points

• Rivermont Capital Management LP increased its stake in Ferguson plc by 60.0%, now holding 99,279 shares valued at approximately $15.9 million, making it the 7th largest holding in their investment portfolio.
• Several major institutional investors, including Vanguard Group Inc. and T. Rowe Price Investment Management Inc., also significantly increased their positions in Ferguson during the first quarter of the year.
• Analysts have upgraded Ferguson's price targets, with some rating the stock as an "outperform" and a consensus price target of $221.00, indicating strong investor confidence in the company's future performance.

Rivermont Capital Management LP boosted its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 60.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,279 shares of the company's stock after purchasing an additional 37,227 shares during the quarter. Ferguson comprises 6.7% of Rivermont Capital Management LP's portfolio, making the stock its 7th biggest holding. Rivermont Capital Management LP's holdings in Ferguson were worth $15,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its position in shares of Ferguson by 101.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock worth $667,498,000 after buying an additional 2,094,029 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Ferguson by 65.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock worth $713,740,000 after acquiring an additional 1,755,464 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock valued at $1,227,410,000 after purchasing an additional 1,506,024 shares during the period. Vontobel Holding Ltd. increased its position in shares of Ferguson by 94.6% during the first quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock worth $384,957,000 after acquiring an additional 1,167,751 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Ferguson by 769.5% during the 1st quarter. Wellington Management Group LLP now owns 1,266,954 shares of the company's stock worth $203,004,000 after purchasing an additional 1,121,249 shares during the period. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

Shares of NASDAQ FERG traded down $14.49 during midday trading on Friday, reaching $211.23. The company had a trading volume of 4,185,406 shares, compared to its average volume of 1,721,694. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40. The business's 50-day simple moving average is $226.61 and its 200 day simple moving average is $196.33. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a market cap of $41.65 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be given a $0.83 dividend. The ex-dividend date is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a yield of 1.6%. Ferguson's dividend payout ratio is currently 41.40%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Truist Financial restated a "buy" rating and issued a $230.00 price target on shares of Ferguson in a report on Wednesday, June 4th. 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 lifted their price objective on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, The Goldman Sachs Group assumed coverage on Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.