Ferguson plc (NASDAQ:FERG) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 29.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,635,707 shares of the company's stock after acquiring an additional 831,112 shares during the quarter. Pictet Asset Management Holding SA owned 1.82% of Ferguson worth $582,452,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Grove Bank & Trust raised its stake in shares of Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after buying an additional 141 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in shares of Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after buying an additional 130 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Ferguson by 56.5% in the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after purchasing an additional 74 shares during the period. LGT Financial Advisors LLC boosted its stake in Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after purchasing an additional 102 shares during the period. Finally, LRI Investments LLC acquired a new position in Ferguson in the 1st quarter worth approximately $46,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of FERG stock traded up $2.98 during trading hours on Friday, reaching $221.82. 276,996 shares of the company's stock were exchanged, compared to its average volume of 1,670,369. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $226.63. The stock has a market capitalization of $43.74 billion, a P/E ratio of 26.71, a P/E/G ratio of 1.69 and a beta of 1.17. The business has a fifty day moving average price of $204.72 and a 200-day moving average price of $182.37. 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 data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, topping 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%. During the same quarter last year, the firm posted $2.32 EPS. Ferguson's revenue was up 4.3% compared to the same quarter last year. Analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders 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 dividend yield of 1.50%. Ferguson's payout ratio is presently 41.40%.

Wall Street Analyst Weigh In

FERG has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada lifted their target price on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. lifted their target price on shares of Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferguson in a research note on Tuesday, April 1st. They issued a "hold" rating and a $174.00 target price for the company. Finally, 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. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $220.64.

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.

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