Nexus Investment Management ULC Has $21.35 Million Position in Ferguson plc $FERG

Key Points

• Nexus Investment Management ULC increased its stake in Ferguson plc by 3.8% in Q2, owning 98,066 shares valued at $21.35 million.
• Ferguson recently reported EPS of $3.48 for the quarter, exceeding expectations by $0.48, with revenue hitting $8.50 billion.
• A quarterly dividend of $0.83 will be paid on November 7th, representing an annual yield of 1.4% with a payout ratio of 35.55%.

Nexus Investment Management ULC lifted its holdings in Ferguson plc (NYSE:FERG - Free Report) by 3.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 98,066 shares of the company's stock after purchasing an additional 3,585 shares during the quarter. Ferguson comprises 3.2% of Nexus Investment Management ULC's holdings, making the stock its 16th biggest position. Nexus Investment Management ULC's holdings in Ferguson were worth $21,354,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its position in shares of Ferguson by 41.5% during the first quarter. Farther Finance Advisors LLC now owns 467 shares of the company's stock worth $75,000 after acquiring an additional 137 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Ferguson by 3.4% during the 1st quarter. Yousif Capital Management LLC now owns 4,502 shares of the company's stock worth $721,000 after purchasing an additional 147 shares in the last quarter. GAMMA Investing LLC increased its holdings in Ferguson by 23.0% during the 1st quarter. GAMMA Investing LLC now owns 3,577 shares of the company's stock worth $573,000 after purchasing an additional 670 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Ferguson by 25.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,188 shares of the company's stock valued at $1,312,000 after purchasing an additional 1,645 shares during the period. Finally, Mission Wealth Management LP lifted its holdings in shares of Ferguson by 2.2% in 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. 81.98% of the stock is owned by institutional investors.

Ferguson Trading Up 2.1%

NYSE FERG opened at $240.05 on Wednesday. The company has a market capitalization of $47.09 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 1.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. The stock's fifty day moving average price is $229.59. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40.

Ferguson (NYSE:FERG - Get Free Report) last announced its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, beating analysts' consensus estimates of $3.00 by $0.48. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate 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 disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson's dividend payout ratio is currently 35.55%.

Analyst Ratings Changes

A number of brokerages recently issued reports on FERG. Wells Fargo & Company lifted their target price on Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Wednesday, September 17th. Oppenheimer lifted their price objective on shares of Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Royal Bank Of Canada increased their target price on shares of Ferguson from $231.00 to $243.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. Robert W. Baird raised their target price on shares of Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Finally, Wall Street Zen cut shares of Ferguson from a "buy" rating to a "hold" rating in a research report on Sunday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Ferguson has a consensus rating of "Moderate Buy" and an average target price of $235.71.

About Ferguson

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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