Firetrail Investments PTY Ltd. Makes New Investment in Ferguson plc (NASDAQ:FERG)

Key Points

• Firetrail Investments PTY Ltd. has made a new investment of approximately $7.69 million in Ferguson plc, acquiring 47,469 shares, which now constitutes about 2.2% of their portfolio.
• Several major institutional investors, including Norges Bank and Barclays PLC, have significantly increased their stakes in Ferguson, underscoring growing interest in the company.
• Ferguson recently reported quarterly earnings of $2.50 per share, exceeding analysts' estimates and indicating a year-over-year revenue increase of 4.3%.

Firetrail Investments PTY Ltd. purchased a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 47,469 shares of the company's stock, valued at approximately $7,688,000. Ferguson makes up approximately 2.2% of Firetrail Investments PTY Ltd.'s portfolio, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Grove Bank & Trust grew its holdings in shares of Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after acquiring an additional 141 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after purchasing an additional 130 shares in the last quarter. TD Private Client Wealth LLC boosted its holdings in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after purchasing an additional 74 shares in the last quarter. LGT Financial Advisors LLC boosted its holdings in Ferguson by 106.3% in the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after purchasing an additional 102 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Ferguson in the first quarter worth $46,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

NASDAQ:FERG traded down $0.44 during mid-day trading on Tuesday, hitting $226.03. The company's stock had a trading volume of 372,518 shares, compared to its average volume of 1,778,928. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $227.73. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $44.57 billion, a price-to-earnings ratio of 27.11, a P/E/G ratio of 1.69 and a beta of 1.17. The stock has a fifty day moving average of $211.06 and a 200-day moving average of $185.01.

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, topping the consensus estimate 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 earned $2.32 earnings per share. Ferguson's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, June 20th. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective for the company. Royal Bank Of Canada upped their price objective on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Wells Fargo & Company upped their price objective on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Barclays upped their price target on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, Truist Financial restated a "buy" rating and set a $230.00 price target on shares of Ferguson in a report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Ferguson presently has a consensus rating of "Moderate Buy" and a consensus price target of $220.64.

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.