Lecap Asset Management Ltd. Takes $373,000 Position in Ferguson plc (NASDAQ:FERG)

Lecap Asset Management Ltd. acquired a new stake in Ferguson plc (NASDAQ:FERG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,326 shares of the company's stock, valued at approximately $373,000.

Several other institutional investors have also modified their holdings of the company. Moran Wealth Management LLC acquired a new stake in shares of Ferguson in the first quarter valued at $4,490,000. PBMares Wealth Management LLC acquired a new stake in shares of Ferguson in the first quarter valued at $550,000. Asset Management One Co. Ltd. lifted its holdings in shares of Ferguson by 5.0% in the first quarter. Asset Management One Co. Ltd. now owns 76,117 shares of the company's stock valued at $12,196,000 after buying an additional 3,599 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Ferguson by 121.6% in the first quarter. Oppenheimer & Co. Inc. now owns 8,566 shares of the company's stock valued at $1,373,000 after buying an additional 4,700 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Ferguson by 47.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 46,767 shares of the company's stock valued at $7,493,000 after buying an additional 15,108 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Down 0.3%

Shares of NASDAQ:FERG traded down $0.57 during trading on Friday, reaching $217.67. 2,431,176 shares of the company traded hands, compared to its average volume of 1,665,479. The firm has a fifty day simple moving average of $188.93 and a 200 day simple moving average of $178.33. The company has a quick ratio of 0.91, a current ratio of 1.68 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 firm has a market cap of $42.92 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13.

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

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, June 20th. Ferguson's dividend payout ratio is currently 41.40%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FERG. Robert W. Baird set a $190.00 price objective on Ferguson and gave the company an "outperform" rating in a report on Wednesday, March 12th. JPMorgan Chase & Co. upped their target price on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Citigroup reduced their price objective on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a research note on Wednesday, March 12th. The Goldman Sachs Group initiated coverage on shares of Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 target price for the company. Finally, Truist Financial restated a "buy" rating and set a $230.00 price target on shares of Ferguson in a report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.