KBC Group NV Reduces Stock Position in Ferguson plc (NASDAQ:FERG)

KBC Group NV decreased its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 15.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 101,189 shares of the company's stock after selling 18,440 shares during the period. KBC Group NV owned 0.05% of Ferguson worth $16,214,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Grove Bank & Trust boosted its position in shares of Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after acquiring an additional 141 shares during the period. Whipplewood Advisors LLC lifted its stake in Ferguson by 166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after purchasing an additional 130 shares in the last quarter. LGT Financial Advisors LLC boosted its holdings in Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 102 shares during the period. Private Trust Co. NA grew its position in shares of Ferguson by 92.5% during the 4th quarter. Private Trust Co. NA now owns 258 shares of the company's stock valued at $45,000 after purchasing an additional 124 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of Ferguson by 259.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 291 shares of the company's stock worth $47,000 after purchasing an additional 210 shares during the period. Institutional investors own 81.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FERG shares. Morgan Stanley reissued an "overweight" rating and set a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Truist Financial reissued a "buy" rating and set a $230.00 price objective on shares of Ferguson in a report on Wednesday, June 4th. Citigroup lowered their target price on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferguson in a research note on Tuesday, April 1st. They issued a "hold" rating and a $174.00 price target for the company. Finally, Royal Bank Of Canada raised their price objective on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Ferguson presently has a consensus rating of "Moderate Buy" and a consensus target price of $221.27.

Ferguson Trading Up 1.4%

NASDAQ FERG traded up $3.04 during trading on Thursday, hitting $224.44. 1,075,397 shares of the company's stock traded hands, compared to its average volume of 1,672,473. The stock has a fifty day moving average of $193.47 and a two-hundred day moving average of $179.09. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $225.63. The firm has a market cap of $44.26 billion, a P/E ratio of 26.94, a PEG ratio of 1.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

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 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%. The company's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.32 EPS. As a group, sell-side analysts expect that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's dividend payout ratio is 41.40%.

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.