Wealth Enhancement Advisory Services LLC Purchases 72,168 Shares of Ferguson plc $FERG

Key Points

• Wealth Enhancement Advisory Services LLC significantly increased its position in Ferguson plc by 881.4% during Q2, acquiring a total of 80,356 shares valued at approximately $17.9 million.
• Ferguson announced a quarterly dividend of $0.83, representing an annualized rate of $3.32 and a dividend yield of 1.4%, to be paid on November 7th.
• Several analysts have raised their price targets for Ferguson, with Goldman Sachs setting a target of $280.00 and a consensus target price of $235.71 among ten investment analysts recommending a "Buy" rating.

Wealth Enhancement Advisory Services LLC boosted its position in Ferguson plc (NASDAQ:FERG - Free Report) by 881.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,356 shares of the company's stock after acquiring an additional 72,168 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Ferguson were worth $17,945,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Grove Bank & Trust boosted its stake in shares of Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after purchasing an additional 141 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Whipplewood Advisors LLC boosted its stake in shares of Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock valued at $36,000 after purchasing an additional 115 shares in the last quarter. Finally, SVB Wealth LLC bought a new stake in shares of Ferguson during the 1st quarter valued at about $43,000. Institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of NASDAQ:FERG traded up $3.64 during midday trading on Monday, reaching $233.05. 2,277,412 shares of the company were exchanged, compared to its average volume of 1,773,648. 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 business's fifty day moving average is $226.91 and its two-hundred day moving average is $198.52. Ferguson plc has a one year low of $146.00 and a one year high of $243.40. The stock has a market cap of $45.95 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson's dividend payout ratio (DPR) is 35.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FERG shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Ferguson in a research note on Wednesday, September 10th. Barclays lifted their target price on shares of Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a report on Thursday. Robert W. Baird boosted their target price on shares of Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Berenberg Bank reissued a "hold" rating and set a $215.00 price target on shares of Ferguson in a report on Thursday, June 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $235.71.

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.