Headlands Technologies LLC Has $1.96 Million Stock Position in Ferguson plc (NASDAQ:FERG)

Key Points

• Headlands Technologies LLC sold 9,825 shares of Ferguson plc, reducing its stake by 44.5%, leaving them with 12,233 shares valued at approximately $1.96 million.
• Ferguson reported earnings of $2.50 per share, surpassing analysts' expectations of $2.06, with a revenue increase of 4.3% year-over-year.
• Recent analyst ratings show an average target price of $220.64 for Ferguson, with six analysts rating it as a hold and ten giving it a buy rating.

Headlands Technologies LLC lowered its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 44.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,233 shares of the company's stock after selling 9,825 shares during the period. Headlands Technologies LLC's holdings in Ferguson were worth $1,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. LGT Financial Advisors LLC increased its position in Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after purchasing an additional 102 shares during the last quarter. Grove Bank & Trust grew its stake in shares of Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after buying an additional 141 shares in the last quarter. TD Private Client Wealth LLC increased 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 buying an additional 74 shares during the last quarter. Whipplewood Advisors LLC lifted its stake in Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after acquiring an additional 130 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in Ferguson in the first quarter worth approximately $46,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FERG. Berenberg Bank reiterated a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Morgan Stanley reissued an "overweight" rating and issued a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. 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. Truist Financial reissued a "buy" rating and set a $230.00 target price on shares of Ferguson in a research report on Wednesday, June 4th. Finally, Wells Fargo & Company raised their price target on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson Price Performance

NASDAQ:FERG traded down $1.23 during mid-day trading on Friday, hitting $223.53. The company's stock had a trading volume of 855,301 shares, compared to its average volume of 1,739,130. The stock has a fifty day moving average of $218.91 and a 200-day moving average of $187.88. 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 fifty-two week low of $146.00 and a fifty-two week high of $228.80. The company has a market capitalization of $44.08 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 1.69 and a beta of 1.16.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. During the same period in the prior year, the business posted $2.32 earnings per share. The company's quarterly revenue 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 company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were issued a $0.83 dividend. The ex-dividend date was Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.5%. Ferguson's dividend payout ratio (DPR) is currently 41.40%.

Ferguson Company 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.