PNC Financial Services Group Inc. trimmed its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 40.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,747 shares of the company's stock after selling 6,622 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Ferguson were worth $1,562,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in shares of Ferguson by 247.4% during the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after purchasing an additional 141 shares during the period. Whipplewood Advisors LLC increased its holdings in shares of Ferguson by 166.7% during the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of Ferguson by 56.5% during the first 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 during the period. LGT Financial Advisors LLC increased its holdings in shares of Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 102 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Ferguson during the first quarter valued at $46,000. 81.98% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on FERG shares. Truist Financial reissued a "buy" rating and set a $230.00 price target on shares of Ferguson in a report on Wednesday, June 4th. Wells Fargo & Company raised their price target on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. The Goldman Sachs Group started coverage on Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Finally, Morgan Stanley reissued an "overweight" rating and set a $220.00 price target (up from $195.00) on shares of Ferguson in a report on Monday, June 9th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $220.64.
Get Our Latest Stock Analysis on Ferguson
Ferguson Price Performance
NASDAQ:FERG opened at $223.53 on Friday. The business's 50-day moving average price is $218.91 and its 200 day moving average price is $187.88. The firm has a market cap of $44.08 billion, a P/E ratio of 26.83, a PEG ratio of 1.69 and a beta of 1.16. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $228.80. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.
Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, topping 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%. Ferguson's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.32 EPS. As a group, sell-side analysts predict that Ferguson plc will post 9.4 earnings per share for the current fiscal year.
Ferguson Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were paid a $0.83 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.5%. Ferguson's dividend payout ratio (DPR) is currently 41.40%.
About Ferguson
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding FERG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferguson plc (NASDAQ:FERG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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