Jupiter Asset Management Ltd. Has $7.65 Million Position in Ferguson plc (NASDAQ:FERG)

Key Points

• Jupiter Asset Management Ltd. reduced its stake in Ferguson plc by 18.8%, now holding 48,565 shares worth approximately $7.65 million.
• Several hedge funds have increased their positions in Ferguson, with Barclays PLC boosting its stake by 208.8%, owning 2.68 million shares valued at $464.97 million.
• Ferguson recently announced a quarterly dividend of $0.83 per share, with an annualized dividend yield of 1.5% and a payout ratio of 41.4%.

Jupiter Asset Management Ltd. reduced its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 18.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,565 shares of the company's stock after selling 11,226 shares during the period. Jupiter Asset Management Ltd.'s holdings in Ferguson were worth $7,654,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its position in Ferguson by 208.8% during the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company's stock worth $464,973,000 after buying an additional 1,811,287 shares during the period. FMR LLC boosted its position in Ferguson by 18.2% during the 4th quarter. FMR LLC now owns 10,007,892 shares of the company's stock worth $1,740,049,000 after buying an additional 1,539,889 shares during the period. Bank of New York Mellon Corp boosted its position in Ferguson by 24.5% during the 1st quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after buying an additional 1,506,024 shares during the period. Invesco Ltd. boosted its position in Ferguson by 25.9% during the 4th quarter. Invesco Ltd. now owns 5,991,445 shares of the company's stock worth $1,039,935,000 after buying an additional 1,231,120 shares during the period. Finally, Vontobel Holding Ltd. boosted its position in Ferguson by 94.6% during the 1st quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock worth $384,957,000 after buying an additional 1,167,751 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FERG has been the topic of several recent research reports. Truist Financial reiterated a "buy" rating and set a $230.00 target price on shares of Ferguson in a research report on Wednesday, June 4th. The Goldman Sachs Group initiated coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Berenberg Bank reiterated a "hold" rating and set a $215.00 target price on shares of Ferguson in a research report on Thursday, June 5th. Royal Bank Of Canada lifted their target price on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson Stock Down 0.6%

Ferguson stock opened at $221.89 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $228.80. The firm has a 50 day moving average price of $214.64 and a two-hundred day moving average price of $186.40. The firm has a market cap of $43.75 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG - Get Free Report) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same period last year, the company posted $2.32 earnings per share. Equities analysts predict that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be paid a $0.83 dividend. The ex-dividend date is Friday, June 20th. This represents a $3.32 annualized dividend and a dividend yield of 1.5%. Ferguson's payout ratio 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.

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