GHP Investment Advisors Inc. Reduces Stock Position in Ferguson plc (NASDAQ:FERG)

GHP Investment Advisors Inc. lessened its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,062 shares of the company's stock after selling 1,407 shares during the quarter. GHP Investment Advisors Inc.'s holdings in Ferguson were worth $6,259,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its position in Ferguson by 18.2% in the fourth quarter. FMR LLC now owns 10,007,892 shares of the company's stock worth $1,740,049,000 after acquiring an additional 1,539,889 shares during the period. Invesco Ltd. lifted its holdings in Ferguson by 25.9% during the fourth quarter. Invesco Ltd. now owns 5,991,445 shares of the company's stock valued at $1,039,935,000 after purchasing an additional 1,231,120 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Ferguson by 1.3% in the fourth quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock worth $856,746,000 after purchasing an additional 62,887 shares during the period. Parnassus Investments LLC increased its stake in shares of Ferguson by 944.4% in the fourth quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock worth $613,944,000 after purchasing an additional 3,198,477 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Ferguson by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,215,657 shares of the company's stock worth $557,082,000 after purchasing an additional 18,036 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FERG. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Robert W. Baird set a $190.00 target price on shares of Ferguson and gave the stock an "outperform" rating in a report on Wednesday, March 12th. The Goldman Sachs Group assumed coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price for the company. 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. Finally, Berenberg Bank reissued a "hold" rating and set a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $221.27.

Ferguson Trading Up 0.1%

Shares of NASDAQ FERG traded up $0.12 during trading hours on Wednesday, hitting $219.27. 1,344,114 shares of the company traded hands, compared to its average volume of 1,661,681. The company's 50 day moving average price is $186.72 and its 200 day moving average price is $178.04. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $225.63. The stock has a market capitalization of $43.24 billion, a price-to-earnings ratio of 26.32, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. 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 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 quarter in the previous year, the business earned $2.32 EPS. Ferguson's revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

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 issued a dividend of $0.83 per share. The ex-dividend date is Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.51%. Ferguson's payout ratio is 41.40%.

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.