DAVENPORT & Co LLC Buys 5,819 Shares of Ferguson plc (NASDAQ:FERG)

DAVENPORT & Co LLC lifted its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 19.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 35,149 shares of the company's stock after acquiring an additional 5,819 shares during the period. DAVENPORT & Co LLC's holdings in Ferguson were worth $5,632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust increased its stake in shares of Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after acquiring an additional 141 shares during the period. Whipplewood Advisors LLC boosted its stake in shares of Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after buying an additional 130 shares during the last quarter. LGT Financial Advisors LLC grew its holdings in Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after acquiring an additional 102 shares during the period. Private Trust Co. NA increased its holdings in shares of Ferguson by 92.5% during the 4th quarter. Private Trust Co. NA now owns 258 shares of the company's stock valued at $45,000 after purchasing an additional 124 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Ferguson by 259.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 291 shares of the company's stock worth $47,000 after acquiring an additional 210 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FERG shares. Robert W. Baird set a $190.00 target price on Ferguson and gave the company an "outperform" rating in a research report on Wednesday, March 12th. Royal Bank Of Canada upped their target price on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group started coverage on shares of Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferguson in a research note on Tuesday, April 1st. They set a "hold" rating and a $174.00 price objective for the company. Finally, Oppenheimer raised their target price on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $221.27.

Ferguson Trading Down 0.4%

Shares of NASDAQ:FERG traded down $0.80 during trading on Monday, hitting $222.52. 1,364,307 shares of the company's stock were exchanged, compared to its average volume of 1,677,073. 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 firm has a market cap of $43.88 billion, a P/E ratio of 26.71, a PEG ratio of 1.69 and a beta of 1.17. The firm has a 50-day moving average price of $195.61 and a two-hundred day moving average price of $179.66. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same period in the previous year, the business earned $2.32 earnings per share. The company's revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.49%. Ferguson's dividend payout ratio is 41.40%.

About Ferguson

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.