Ferguson plc (NASDAQ:FERG) Shares Purchased by Madison Asset Management LLC

Madison Asset Management LLC boosted its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 57.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,848 shares of the company's stock after purchasing an additional 172,247 shares during the quarter. Madison Asset Management LLC owned about 0.24% of Ferguson worth $75,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Mission Wealth Management LP boosted its position in Ferguson by 2.2% during the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock valued at $489,000 after purchasing an additional 67 shares in the last quarter. James Hambro & Partners LLP raised its stake in Ferguson by 1.1% in the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock valued at $1,011,000 after buying an additional 70 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in Ferguson by 6.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after buying an additional 74 shares during the last quarter. TD Private Client Wealth LLC raised its stake in Ferguson by 56.5% in the first 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 during the last quarter. Finally, Cidel Asset Management Inc. raised its stake in Ferguson by 6.5% in the first quarter. Cidel Asset Management Inc. now owns 1,284 shares of the company's stock valued at $206,000 after buying an additional 78 shares during the last quarter. Institutional investors own 81.98% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FERG shares. JPMorgan Chase & Co. increased their price target on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Berenberg Bank reiterated a "hold" rating and issued a $215.00 price target on shares of Ferguson in a research note on Thursday, June 5th. Truist Financial reiterated a "buy" rating and issued a $230.00 price target on shares of Ferguson in a research note on Wednesday, June 4th. Morgan Stanley reiterated an "overweight" rating and issued a $220.00 price target (up from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Finally, The Goldman Sachs Group started coverage on Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target for the company. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $220.64.

Ferguson Stock Performance

Shares of NASDAQ:FERG traded up $0.39 during trading on Friday, hitting $224.08. The stock had a trading volume of 1,110,373 shares, compared to its average volume of 1,793,970. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $227.73. The stock has a market capitalization of $44.18 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock has a 50-day simple moving average of $210.19 and a two-hundred day simple moving average of $184.44.

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 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 business's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.32 EPS. On average, equities research analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors 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 yield of 1.48%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's dividend payout ratio (DPR) 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.