Kentucky Retirement Systems Makes New $2.19 Million Investment in Ferguson plc (NASDAQ:FERG)

Kentucky Retirement Systems bought a new position in Ferguson plc (NASDAQ:FERG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,659 shares of the company's stock, valued at approximately $2,189,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Ferguson by 7.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 778,737 shares of the company's stock worth $135,247,000 after acquiring an additional 52,776 shares during the period. New York Life Investment Management LLC bought a new stake in shares of Ferguson in the fourth quarter worth $587,000. Markel Group Inc. grew its holdings in shares of Ferguson by 25.4% in the fourth quarter. Markel Group Inc. now owns 106,000 shares of the company's stock worth $18,398,000 after acquiring an additional 21,500 shares during the period. GAMMA Investing LLC grew its holdings in shares of Ferguson by 19,616.0% in the first quarter. GAMMA Investing LLC now owns 573,143 shares of the company's stock worth $91,835,000 after acquiring an additional 570,236 shares during the period. Finally, Wolf Group Capital Advisors bought a new stake in shares of Ferguson in the first quarter worth $261,000. Institutional investors own 81.98% of the company's stock.

Ferguson Price Performance

Shares of NASDAQ:FERG traded up $4.41 during mid-day trading on Tuesday, reaching $219.41. The stock had a trading volume of 1,717,412 shares, compared to its average volume of 1,662,951. The business's 50 day moving average price is $186.72 and its 200 day moving average price is $178.04. 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 1 year low of $146.00 and a 1 year high of $225.63. The company has a market cap of $43.26 billion, a P/E ratio of 26.34, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share 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%. During the same quarter in the previous year, the company earned $2.32 EPS. The firm's revenue was up 4.3% on a year-over-year basis. Research analysts expect that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.51%. Ferguson's payout ratio is currently 41.40%.

Analysts Set New Price Targets

Several analysts recently commented on FERG shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. Deutsche Bank Aktiengesellschaft started coverage on Ferguson in a research report on Tuesday, April 1st. They set a "hold" rating and a $174.00 target price on the stock. Oppenheimer lifted their target price on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Robert W. Baird set a $190.00 target price on Ferguson and gave the company an "outperform" rating in a research report on Wednesday, March 12th. Finally, The Goldman Sachs Group started coverage on Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Six research 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, the stock has a consensus rating of "Moderate Buy" and an average price target of $221.27.

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.