Ferguson plc (NASDAQ:FERG) Position Increased by SeaBridge Investment Advisors LLC

SeaBridge Investment Advisors LLC boosted its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 10.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,425 shares of the company's stock after purchasing an additional 1,763 shares during the quarter. SeaBridge Investment Advisors LLC's holdings in Ferguson were worth $2,952,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in Ferguson by 1,036.1% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,020,522 shares of the company's stock worth $163,518,000 after acquiring an additional 930,696 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Ferguson in the first quarter valued at about $46,000. CWM LLC grew its stake in shares of Ferguson by 110.5% in the first quarter. CWM LLC now owns 9,782 shares of the company's stock valued at $1,567,000 after buying an additional 5,136 shares in the last quarter. Stephens Inc. AR grew its stake in shares of Ferguson by 45.2% in the first quarter. Stephens Inc. AR now owns 1,692 shares of the company's stock valued at $271,000 after buying an additional 527 shares in the last quarter. Finally, New York State Common Retirement Fund grew its stake in shares of Ferguson by 2.6% in the first quarter. New York State Common Retirement Fund now owns 147,953 shares of the company's stock valued at $23,707,000 after buying an additional 3,800 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on FERG shares. UBS Group increased their target price on Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Wells Fargo & Company increased their target price on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. JPMorgan Chase & Co. increased their target price on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Truist Financial reiterated a "buy" rating and issued a $230.00 target price on shares of Ferguson in a research note on Wednesday, June 4th. Finally, Berenberg Bank reissued a "hold" rating and issued a $215.00 price target on shares of Ferguson in a report on Thursday, June 5th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Stock Performance

Shares of FERG stock traded up $3.16 on Friday, hitting $222.00. 635,442 shares of the stock traded hands, compared to its average volume of 1,671,835. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The company has a market capitalization of $43.77 billion, a PE ratio of 26.66, a PEG ratio of 1.69 and a beta of 1.17. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $226.63. The company's fifty day moving average is $204.72 and its 200 day moving average is $182.37.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) 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%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $2.32 EPS. On average, equities research 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 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 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, June 20th. Ferguson's dividend payout ratio (DPR) 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.