IFM Investors Pty Ltd Boosts Stock Position in Ferguson plc $FERG

Key Points

• IFM Investors Pty Ltd increased its position in Ferguson plc by 2.9%, acquiring an additional 1,204 shares, bringing its total holdings to 42,155 shares valued at approximately $9,179,000.
• Equity analysts are optimistic about Ferguson, with analysts from Goldman Sachs, Wells Fargo, and Barclays issuing buy ratings and raising their price targets for the stock to $280.00, $275.00, and $273.00 respectively.
• Ferguson recently declared a quarterly dividend of $0.83 per share, representing an annualized dividend yield of 1.4%, with a payout ratio of 35.55%.

IFM Investors Pty Ltd lifted its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 2.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,155 shares of the company's stock after acquiring an additional 1,204 shares during the period. IFM Investors Pty Ltd's holdings in Ferguson were worth $9,179,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FERG. Grove Bank & Trust raised its holdings in shares of Ferguson by 247.4% during the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after purchasing an additional 141 shares during the period. Whipplewood Advisors LLC raised its stake in Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after buying an additional 130 shares during the period. TD Private Client Wealth LLC raised its stake in Ferguson by 56.5% during the 1st 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 period. Brooklyn Investment Group raised its position in shares of Ferguson by 103.6% during the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after purchasing an additional 115 shares during the period. Finally, SVB Wealth LLC acquired a new position in shares of Ferguson during the first quarter worth approximately $43,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Price Performance

Ferguson stock traded up $3.64 during midday trading on Monday, hitting $233.05. 1,306,503 shares of the company's stock were exchanged, compared to its average volume of 1,767,678. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $243.40. The stock has a 50-day moving average price of $226.91 and a two-hundred day moving average price of $198.52. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The company has a market cap of $45.95 billion, a P/E ratio of 27.98, a PEG ratio of 1.69 and a beta of 1.15.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson's dividend payout ratio is currently 35.55%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FERG shares. JPMorgan Chase & Co. upped their target price on Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Oppenheimer upped their price objective on shares of Ferguson from $235.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Wells Fargo & Company raised their price target on shares of Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Wednesday, September 17th. Barclays raised their price target on shares of Ferguson from $247.00 to $273.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, UBS Group raised their price target on shares of Ferguson from $204.00 to $225.00 and gave the company a "neutral" rating in a research report on Wednesday, September 17th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $235.71.

About Ferguson

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.