Longfellow Investment Management Co. LLC Purchases New Position in Ferguson plc (NASDAQ:FERG)

Key Points

• Longfellow Investment Management Co. LLC acquired a new stake in Ferguson plc worth approximately $395,000, purchasing 2,465 shares.
• Ferguson reported earnings per share of $2.50 for the last quarter, exceeding analysts' expectations of $2.06, alongside a 4.3% year-over-year increase in revenue.
• The company recently declared a quarterly dividend of $0.83 per share, representing an annualized yield of 1.5% with a payout ratio of 41.40%.

Longfellow Investment Management Co. LLC bought a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,465 shares of the company's stock, valued at approximately $395,000.

Several other hedge funds also recently added to or reduced their stakes in FERG. Grove Bank & Trust increased its position in Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after buying an additional 141 shares in the last quarter. Whipplewood Advisors LLC increased its position in Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after buying an additional 130 shares in the last quarter. TD Private Client Wealth LLC increased its position in Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after buying an additional 74 shares in the last quarter. LGT Financial Advisors LLC increased its position in Ferguson by 106.3% during the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after buying an additional 102 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Ferguson during the 1st quarter valued at about $46,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of NASDAQ FERG traded down $1.46 during trading on Thursday, reaching $228.40. 1,198,987 shares of the company traded hands, compared to its average volume of 1,724,212. The firm's fifty day simple moving average is $220.31 and its 200 day simple moving average is $188.77. The stock has a market cap of $45.04 billion, a P/E ratio of 27.42, a PEG ratio of 1.69 and a beta of 1.16. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $230.38. 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 (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 analysts' consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. Ferguson's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $2.32 earnings per share. As a group, research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, June 20th. Ferguson's payout ratio is currently 41.40%.

Analyst Ratings Changes

FERG has been the topic of several recent analyst reports. UBS Group upped their target price on Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Truist Financial reaffirmed a "buy" rating and set a $230.00 price target on shares of Ferguson in a research report on Wednesday, June 4th. Wells Fargo & Company lifted their price target on Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Oppenheimer lifted their price target on Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Ferguson currently has a consensus rating of "Moderate Buy" and a consensus price target of $220.64.

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.