Tran Capital Management L.P. Has $32.41 Million Stake in Ferguson plc (NASDAQ:FERG)

Tran Capital Management L.P. trimmed its position in Ferguson plc (NASDAQ:FERG - Free Report) by 9.3% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 202,289 shares of the company's stock after selling 20,843 shares during the period. Ferguson comprises approximately 4.4% of Tran Capital Management L.P.'s holdings, making the stock its 7th largest holding. Tran Capital Management L.P. owned about 0.10% of Ferguson worth $32,413,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Parnassus Investments LLC lifted its stake in shares of Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock valued at $613,944,000 after purchasing an additional 3,198,477 shares during the period. Norges Bank acquired a new position in shares of Ferguson in the 4th quarter valued at $469,730,000. Barclays PLC lifted its stake in shares of Ferguson by 208.8% in the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company's stock valued at $464,973,000 after purchasing an additional 1,811,287 shares during the period. FMR LLC lifted its stake in shares of Ferguson by 18.2% in the 4th quarter. FMR LLC now owns 10,007,892 shares of the company's stock valued at $1,740,049,000 after purchasing an additional 1,539,889 shares during the period. Finally, Schroder Investment Management Group acquired a new position in shares of Ferguson in the 4th quarter valued at $239,539,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Up 0.2%

FERG stock traded up $0.35 during trading hours on Thursday, reaching $213.78. 1,153,382 shares of the stock were exchanged, compared to its average volume of 1,655,750. The firm's 50-day moving average is $176.83 and its 200-day moving average is $178.41. The company has a market cap of $42.15 billion, a price-to-earnings ratio of 25.66, a PEG ratio of 1.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $225.63.

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

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, June 20th. Ferguson's payout ratio is currently 41.40%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FERG shares. Wolfe Research started coverage on Ferguson in a research note on Monday, March 17th. They issued a "peer perform" rating on the stock. Robert W. Baird set a $190.00 price target on Ferguson and gave the company an "outperform" rating in a research note on Wednesday, March 12th. UBS Group raised their price objective on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Truist Financial reaffirmed a "buy" rating and set a $230.00 price objective on shares of Ferguson in a research note on Wednesday, June 4th. Finally, Wells Fargo & Company raised their price objective on Ferguson from $190.00 to $230.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Ferguson currently has a consensus rating of "Moderate Buy" and an average target price of $217.07.

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.