Handelsbanken Fonder AB Lowers Position in Ferguson plc (NASDAQ:FERG)

Handelsbanken Fonder AB trimmed its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,116 shares of the company's stock after selling 1,268 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.05% of Ferguson worth $17,163,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC boosted its position in Ferguson by 906.7% during the fourth quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock valued at $26,000 after purchasing an additional 136 shares in the last quarter. Whipplewood Advisors LLC boosted its position in Ferguson by 166.7% during the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares in the last quarter. LGT Financial Advisors LLC boosted its position in Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 102 shares in the last quarter. Private Trust Co. NA lifted its position in Ferguson by 92.5% during the fourth quarter. Private Trust Co. NA now owns 258 shares of the company's stock valued at $45,000 after acquiring an additional 124 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Ferguson by 259.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 291 shares of the company's stock valued at $47,000 after acquiring an additional 210 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FERG shares. JPMorgan Chase & Co. increased their target price on shares of Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Wells Fargo & Company increased their target price on shares of Ferguson from $190.00 to $230.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Citigroup reduced their target price on Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Truist Financial reaffirmed a "buy" rating and set a $230.00 target price on shares of Ferguson in a research report on Wednesday, June 4th. Finally, Royal Bank of Canada upped their target price on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.07.

Ferguson Stock Performance

FERG traded up $0.35 on Thursday, reaching $213.78. 1,153,382 shares of the stock were exchanged, compared to its average volume of 1,655,750. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $225.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The firm has a market capitalization of $42.15 billion, a PE ratio of 25.66, a PEG ratio of 1.69 and a beta of 1.13. The company's 50-day moving average price is $176.83 and its 200 day moving average price is $178.41.

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 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 last year, the firm posted $2.32 earnings per share. The firm's revenue was up 4.3% on a year-over-year basis. As a group, sell-side 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. Shareholders of record on Friday, June 20th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Friday, June 20th. Ferguson's dividend payout ratio is presently 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.