Mediolanum International Funds Ltd Sells 4,399 Shares of Ferguson plc (NASDAQ:FERG)

Key Points

• Mediolanum International Funds Ltd decreased its stake in **Ferguson plc** by **13.9%**, selling **4,399 shares** and retaining **27,225 shares** valued at approximately **$4.37 million**.
• Multiple institutional investors, such as **FMR LLC** and **Bank of New York Mellon Corp**, increased their holdings in Ferguson, reflecting strong institutional interest in the stock.
• Ferguson's recent earnings report showed an **EPS** of **$2.50**, surpassing estimates and indicating a **4.3% year-over-year revenue growth**, while the company also announced a quarterly dividend of **$0.83 per share**.

Mediolanum International Funds Ltd reduced its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 13.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,225 shares of the company's stock after selling 4,399 shares during the period. Mediolanum International Funds Ltd's holdings in Ferguson were worth $4,370,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FERG. LGT Financial Advisors LLC increased its stake in shares of Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after purchasing an additional 102 shares in the last quarter. Grove Bank & Trust boosted its holdings in Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after purchasing an additional 141 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in Ferguson by 56.5% in the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Whipplewood Advisors LLC lifted its holdings in shares of Ferguson by 166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after acquiring an additional 130 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Ferguson in the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

Ferguson stock traded down $0.70 during trading hours on Thursday, reaching $224.77. 247,930 shares of the company were exchanged, compared to its average volume of 1,766,136. The firm has a market cap of $44.32 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.69 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average of $212.90 and a 200 day moving average of $185.58. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $228.80.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly 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 last year, the firm earned $2.32 earnings per share. The company's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be paid a $0.83 dividend. The ex-dividend date is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.48%. Ferguson's payout ratio is 41.40%.

Analysts Set New Price Targets

Several brokerages recently weighed in on FERG. Truist Financial reaffirmed a "buy" rating and set a $230.00 target price on shares of Ferguson in a research note on Wednesday, June 4th. UBS Group increased their price objective on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on shares of Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Barclays upped their target price on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Finally, Wells Fargo & Company raised their target price on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company 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.