National Pension Service Increases Holdings in Ferguson plc $FERG

Key Points

• The National Pension Service increased its stake in Ferguson plc by 16.4%, owning over 303,251 shares with a total value of approximately $48.59 million.
• Analysts have given Ferguson plc an average rating of "Moderate Buy", with a consensus price target of $220.64 after several firms raised their price objectives for the stock.
• The company recently declared a quarterly dividend of $0.83, representing an annualized dividend of $3.32 and a yield of 1.5%.

National Pension Service raised its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 16.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 303,251 shares of the company's stock after acquiring an additional 42,665 shares during the quarter. National Pension Service owned approximately 0.15% of Ferguson worth $48,590,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Ferguson by 14.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock valued at $928,000 after buying an additional 722 shares during the period. Fiera Capital Corp increased its holdings in Ferguson by 37.5% during the 1st quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock worth $2,090,000 after purchasing an additional 3,559 shares during the period. Empower Advisory Group LLC bought a new stake in Ferguson during the 1st quarter valued at $843,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Ferguson by 24.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock worth $544,000 after buying an additional 657 shares during the period. Finally, Pictet Asset Management Holding SA increased its stake in shares of Ferguson by 29.6% during the first quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock valued at $582,452,000 after buying an additional 831,112 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group increased their target price on shares of Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Royal Bank Of Canada boosted their price target on Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Truist Financial reissued a "buy" rating and set a $230.00 price target on shares of Ferguson in a research report on Wednesday, June 4th. Wells Fargo & Company increased their target price on shares of Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Oppenheimer lifted their price objective on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and a consensus target price of $220.64.

Ferguson Price Performance

FERG traded up $1.8170 during midday trading on Tuesday, hitting $232.9270. 370,174 shares of the company traded hands, compared to its average volume of 1,711,843. The company has a market capitalization of $45.93 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 1.69 and a beta of 1.16. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $235.12. The business has a 50 day simple moving average of $221.34 and a two-hundred day simple moving average of $189.89. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 EPS 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%. The business's revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.32 earnings per share. On average, equities analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.4%. The ex-dividend date was Friday, June 20th. Ferguson's payout ratio is 41.40%.

Ferguson Company 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.