Fisher Funds Management LTD increased its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 55.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,002 shares of the company's stock after purchasing an additional 53,470 shares during the period. Fisher Funds Management LTD owned 0.08% of Ferguson worth $24,035,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its position in shares of Ferguson by 7.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company's stock valued at $135,247,000 after purchasing an additional 52,776 shares during the period. Markel Group Inc. increased its holdings in Ferguson by 25.4% in the 4th quarter. Markel Group Inc. now owns 106,000 shares of the company's stock valued at $18,398,000 after acquiring an additional 21,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 acquiring an additional 722 shares during the last quarter. Manning & Napier Advisors LLC increased its holdings in Ferguson by 40.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 35,015 shares of the company's stock valued at $5,610,000 after acquiring an additional 10,064 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Ferguson by 19,616.0% in the 1st quarter. GAMMA Investing LLC now owns 573,143 shares of the company's stock valued at $91,835,000 after acquiring an additional 570,236 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on FERG shares. Wolfe Research started coverage on shares of Ferguson in a report on Monday, March 17th. They issued a "peer perform" rating on the stock. Morgan Stanley reiterated an "overweight" rating and issued a $220.00 price target (up from $195.00) on shares of Ferguson in a report on Monday, June 9th. Citigroup reduced their price target on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. UBS Group lifted their price target on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Ferguson currently has an average rating of "Moderate Buy" and a consensus price target of $221.27.
Check Out Our Latest Analysis on FERG
Ferguson Trading Up 0.8%
Shares of FERG stock traded up $1.76 during trading hours on Friday, reaching $223.16. 1,075,399 shares of the stock were exchanged, compared to its average volume of 1,678,329. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $225.63. 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's 50-day moving average price is $195.61 and its 200-day moving average price is $179.63. The firm has a market capitalization of $44.00 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17.
Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping 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 quarter in the previous year, the firm posted $2.32 earnings per share. The business's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.
Ferguson Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors 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 1.49%. Ferguson's dividend payout ratio 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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