Ferguson plc $FERG Stake Boosted by GFI Investment Counsel Ltd.

Key Points

• GFI Investment Counsel Ltd. increased its holdings in Ferguson plc by 4.2%, acquiring an additional 11,807 shares to bring its total to 294,195 shares, representing approximately 5.5% of its investment portfolio.
• Ferguson reported $2.50 earnings per share (EPS), exceeding analysts' estimates of $2.06, with a year-over-year revenue increase of 4.3%.
• Analysts have raised their price targets for Ferguson, with Barclays setting a new target of $247.00, while the company currently holds a consensus rating of "Moderate Buy" with an average target price of $220.64.

GFI Investment Counsel Ltd. lifted its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,195 shares of the company's stock after buying an additional 11,807 shares during the quarter. Ferguson accounts for 5.5% of GFI Investment Counsel Ltd.'s portfolio, making the stock its 12th biggest holding. GFI Investment Counsel Ltd. owned 0.15% of Ferguson worth $47,139,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. US Bancorp DE boosted its position in shares of Ferguson by 0.8% in the first quarter. US Bancorp DE now owns 7,394 shares of the company's stock worth $1,185,000 after buying an additional 59 shares during the period. Mission Wealth Management LP boosted its position in shares of Ferguson by 2.2% in the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock worth $489,000 after buying an additional 67 shares during the period. James Hambro & Partners LLP lifted its position in shares of Ferguson by 1.1% during the 1st quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock worth $1,011,000 after purchasing an additional 70 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in Ferguson by 6.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after acquiring an additional 74 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in shares of 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 acquiring an additional 74 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Trading Up 1.8%

Shares of NASDAQ FERG traded up $4.1880 during mid-day trading on Friday, reaching $233.2480. The company had a trading volume of 1,664,452 shares, compared to its average volume of 1,703,642. 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 plc has a 52 week low of $146.00 and a 52 week high of $238.16. The business's 50-day moving average is $222.72 and its 200-day moving average is $191.20. The stock has a market cap of $45.99 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings results 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%. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.32 EPS. Equities analysts expect that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on FERG. UBS Group increased their target price on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Berenberg Bank reissued a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a research note on Thursday, June 5th. Royal Bank Of Canada upped their target price 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 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 raised their price objective on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.