28,024 Shares in Ferguson plc (NASDAQ:FERG) Acquired by Moran Wealth Management LLC

Moran Wealth Management LLC bought a new stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,024 shares of the company's stock, valued at approximately $4,490,000.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC boosted its holdings in shares of Ferguson by 18.2% during the 4th quarter. FMR LLC now owns 10,007,892 shares of the company's stock valued at $1,740,049,000 after buying an additional 1,539,889 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Ferguson by 25.9% during the 4th quarter. Invesco Ltd. now owns 5,991,445 shares of the company's stock valued at $1,039,935,000 after buying an additional 1,231,120 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Ferguson by 1.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock valued at $856,746,000 after buying an additional 62,887 shares in the last quarter. Parnassus Investments LLC boosted its holdings in shares of Ferguson by 944.4% during the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock valued at $613,944,000 after buying an additional 3,198,477 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Ferguson by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,215,657 shares of the company's stock valued at $557,082,000 after buying an additional 18,036 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

FERG traded down $0.57 during midday trading on Friday, hitting $217.67. 2,431,176 shares of the company traded hands, compared to its average volume of 1,666,253. 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 firm has a market capitalization of $42.92 billion, a PE ratio of 26.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. The company's 50-day moving average is $188.93 and its 200 day moving average is $178.33. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.32 EPS. On average, research analysts expect that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's payout ratio is 41.40%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Ferguson from $190.00 to $230.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. JPMorgan Chase & Co. boosted 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. Morgan Stanley reissued an "overweight" rating and set a $220.00 price objective (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Barclays increased their price objective on shares of Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Finally, Berenberg Bank reissued a "hold" rating and set a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $221.27.

Ferguson 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.