Envestnet Asset Management Inc. reduced its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 19.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 629,254 shares of the company's stock after selling 155,289 shares during the period. Envestnet Asset Management Inc. owned approximately 0.31% of Ferguson worth $100,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parnassus Investments LLC increased its holdings in shares of Ferguson by 944.4% during the fourth quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock valued at $613,944,000 after acquiring an additional 3,198,477 shares in the last quarter. Norges Bank acquired a new stake in Ferguson during the fourth quarter worth about $469,730,000. Barclays PLC increased its holdings in shares of Ferguson by 208.8% during 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 in the last quarter. FMR LLC increased its holdings in Ferguson by 18.2% in the fourth quarter. FMR LLC now owns 10,007,892 shares of the company's stock valued at $1,740,049,000 after buying an additional 1,539,889 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Ferguson by 24.5% in the 1st quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after purchasing an additional 1,506,024 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
FERG has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferguson in a research report on Tuesday, April 1st. They set a "hold" rating and a $174.00 price objective for the company. 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. Morgan Stanley restated an "overweight" rating and issued a $220.00 target price (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Robert W. Baird set a $190.00 target price on Ferguson and gave the stock an "outperform" rating in a research note on Wednesday, March 12th. Finally, Truist Financial reissued a "buy" rating and set a $230.00 price objective on shares of Ferguson in a research report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Ferguson presently has a consensus rating of "Moderate Buy" and an average price target of $222.60.
Get Our Latest Stock Analysis on FERG
Ferguson Stock Up 0.1%
Shares of FERG traded up $0.15 during mid-day trading on Thursday, reaching $224.15. The company's stock had a trading volume of 1,272,132 shares, compared to its average volume of 1,679,388. 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 $226.56. The stock has a market cap of $44.20 billion, a PE ratio of 26.91, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The company's 50 day moving average is $198.80 and its 200 day moving average is $180.57.
Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings data 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 business posted $2.32 EPS. The company's revenue was up 4.3% on a year-over-year basis. Equities analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.
Ferguson Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.48%. Ferguson's dividend payout ratio (DPR) is presently 41.40%.
About Ferguson
(
Free Report)
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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