Moran Wealth Management LLC Has $5.82 Million Holdings in Ferguson plc $FERG

Key Points

• Moran Wealth Management LLC reduced its stake in Ferguson plc by 4.6% during the second quarter, now holding 26,729 shares worth approximately $5.82 million.
• Ferguson recently reported earnings of $3.48 per share, exceeding analysts' expectations of $3.00, with a revenue of $8.50 billion for the quarter.
• The company announced a quarterly dividend of $0.83, yielding 1.4%, which will be paid on November 7th to investors of record as of September 26th.

Moran Wealth Management LLC lessened its holdings in Ferguson plc (NYSE:FERG - Free Report) by 4.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,729 shares of the company's stock after selling 1,295 shares during the period. Moran Wealth Management LLC's holdings in Ferguson were worth $5,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FERG. Grove Bank & Trust lifted its position in Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after acquiring an additional 141 shares during the last quarter. TD Private Client Wealth LLC lifted 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 worth $33,000 after acquiring an additional 74 shares during the last quarter. Hemington Wealth Management lifted its position in Ferguson by 51.5% during the 2nd quarter. Hemington Wealth Management now owns 153 shares of the company's stock worth $33,000 after acquiring an additional 52 shares during the last quarter. Brooklyn Investment Group lifted its position in Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after acquiring an additional 115 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in Ferguson by 230.8% during the 2nd quarter. Fifth Third Bancorp now owns 172 shares of the company's stock worth $37,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Analyst Ratings Changes

FERG has been the subject of a number of research analyst reports. Zacks Research raised shares of Ferguson to a "hold" rating in a research report on Friday, August 8th. Oppenheimer boosted their target price on shares of Ferguson from $235.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their price objective on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Weiss Ratings restated a "buy (b-)" rating on shares of Ferguson in a report on Wednesday, October 8th. Finally, UBS Group boosted their price objective on shares of Ferguson from $204.00 to $225.00 and gave the stock a "neutral" rating in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Ferguson presently has a consensus rating of "Moderate Buy" and a consensus target price of $235.71.

Ferguson Stock Up 2.1%

NYSE FERG opened at $240.05 on Wednesday. The company has a market capitalization of $47.09 billion, a PE ratio of 25.70, a P/E/G ratio of 1.93 and a beta of 1.17. The company has a 50-day simple moving average of $229.59. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $243.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Ferguson (NYSE:FERG - Get Free Report) last posted its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, beating analysts' consensus estimates of $3.00 by $0.48. The business had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a yield of 1.4%. Ferguson's payout ratio is presently 35.55%.

Ferguson Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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