Ferguson plc (NASDAQ:FERG) Shares Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC increased its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 40.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,015 shares of the company's stock after purchasing an additional 10,064 shares during the quarter. Manning & Napier Advisors LLC's holdings in Ferguson were worth $5,610,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kentucky Retirement Systems purchased a new position in Ferguson during the 1st quarter valued at about $2,189,000. Guyasuta Investment Advisors Inc. acquired a new stake in shares of Ferguson in the first quarter valued at approximately $12,857,000. Perfromance Wealth Partners LLC increased its stake in shares of Ferguson by 22.6% during the 1st quarter. Perfromance Wealth Partners LLC now owns 1,980 shares of the company's stock worth $317,000 after purchasing an additional 365 shares in the last quarter. Canoe Financial LP raised its position in shares of Ferguson by 70.2% during the 1st quarter. Canoe Financial LP now owns 2,049 shares of the company's stock worth $328,000 after purchasing an additional 845 shares during the last quarter. Finally, Riverwater Partners LLC raised its position in shares of Ferguson by 5.7% during the 1st quarter. Riverwater Partners LLC now owns 4,082 shares of the company's stock worth $654,000 after purchasing an additional 220 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FERG has been the topic of a number of analyst reports. UBS Group increased their target price on Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferguson in a research note on Tuesday, April 1st. They set a "hold" rating and a $174.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Ferguson from $190.00 to $230.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Truist Financial restated a "buy" rating and issued a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. Finally, Berenberg Bank reiterated a "hold" rating and set a $215.00 price target on shares of Ferguson in a report on Thursday, June 5th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $221.27.

Ferguson Trading Down 0.5%

Shares of FERG traded down $1.08 during mid-day trading on Thursday, hitting $218.32. The company had a trading volume of 1,194,321 shares, compared to its average volume of 1,662,416. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $225.63. The business's 50-day simple moving average is $188.93 and its 200-day simple moving average is $178.33. The stock has a market cap of $43.05 billion, a PE ratio of 26.21, a P/E/G ratio of 1.69 and a beta of 1.13. 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 announced its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same period last year, the firm posted $2.32 EPS. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently announced 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. This represents a $3.32 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, June 20th. 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.