LPL Financial LLC Boosts Stake in Ferguson plc (NASDAQ:FERG)

Key Points

• LPL Financial LLC increased its stake in Ferguson plc by 13.5% in the first quarter, acquiring an additional 6,846 shares and bringing its total holdings to 57,625 shares valued at approximately $9.2 million.
• Analysts have given Ferguson various ratings, with ten analysts rating it a "buy" and six others holding a "hold" rating, leading to an average target price of $220.64.
• Ferguson recently declared a quarterly dividend of $0.83 per share, yielding an annualized dividend of $3.32 and a dividend payout ratio of 41.40%.

LPL Financial LLC lifted its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,625 shares of the company's stock after purchasing an additional 6,846 shares during the period. LPL Financial LLC's holdings in Ferguson were worth $9,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bessemer Group Inc. increased its position in Ferguson by 1.3% in the 4th quarter. Bessemer Group Inc. now owns 23,615 shares of the company's stock valued at $4,099,000 after acquiring an additional 292 shares during the period. Covestor Ltd increased its position in Ferguson by 221.9% in the 4th quarter. Covestor Ltd now owns 338 shares of the company's stock valued at $59,000 after acquiring an additional 233 shares during the period. Sagespring Wealth Partners LLC acquired a new position in Ferguson in the 4th quarter valued at about $239,000. Giverny Capital Inc. acquired a new position in Ferguson in the 4th quarter valued at about $5,851,000. Finally, Barclays PLC increased its position in Ferguson by 208.8% in the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company's stock valued at $464,973,000 after acquiring an additional 1,811,287 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

FERG traded up $3.54 during trading on Tuesday, reaching $226.16. 775,208 shares of the stock were exchanged, compared to its average volume of 1,730,293. The business's 50 day moving average price is $219.75 and its two-hundred day moving average price is $188.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The company has a market capitalization of $44.59 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 1.69 and a beta of 1.16. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $228.80.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping 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%. During the same quarter in the prior year, the business earned $2.32 EPS. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on FERG. Berenberg Bank restated a "hold" rating and issued a $215.00 price target on shares of Ferguson in a research report on Thursday, June 5th. JPMorgan Chase & Co. boosted their target price on Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. The Goldman Sachs Group began coverage on Ferguson in a research note on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price for the company. UBS Group lifted their price target on Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Finally, Oppenheimer lifted their price target on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $220.64.

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.