Commerzbank Aktiengesellschaft FI Increases Stock Position in Ferguson plc (NASDAQ:FERG)

Commerzbank Aktiengesellschaft FI increased its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 39.9% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,654 shares of the company's stock after buying an additional 2,470 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Ferguson were worth $1,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FERG. Mirae Asset Global Investments Co. Ltd. raised its position in Ferguson by 14.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock valued at $928,000 after purchasing an additional 722 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Ferguson by 24.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock valued at $544,000 after purchasing an additional 657 shares in the last quarter. Manning & Napier Advisors LLC raised its position in Ferguson by 40.3% during the first quarter. Manning & Napier Advisors LLC now owns 35,015 shares of the company's stock valued at $5,610,000 after purchasing an additional 10,064 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Ferguson by 3,777.8% during the first quarter. Nisa Investment Advisors LLC now owns 17,450 shares of the company's stock valued at $2,810,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Ferguson during the first quarter valued at about $932,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on FERG. Barclays raised their price target on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Morgan Stanley restated an "overweight" rating and set a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Truist Financial reiterated a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a report on Wednesday, June 4th. UBS Group lifted their price objective on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Finally, Berenberg Bank reiterated a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Stock Up 1.7%

Shares of FERG traded up $3.73 during mid-day trading on Friday, reaching $222.57. The company had a trading volume of 1,536,987 shares, compared to its average volume of 1,678,840. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The firm has a 50-day moving average price of $205.75 and a 200 day moving average price of $182.71. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $226.63. The company has a market capitalization of $43.89 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 EPS 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%. During the same period in the previous year, the company posted $2.32 EPS. The business's revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

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

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.