Nexus Investment Management ULC Acquires Shares of 94,481 Ferguson plc (NASDAQ:FERG)

Nexus Investment Management ULC bought a new stake in Ferguson plc (NASDAQ:FERG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 94,481 shares of the company's stock, valued at approximately $15,139,000. Ferguson makes up 2.3% of Nexus Investment Management ULC's holdings, making the stock its 21st biggest position.

A number of other institutional investors have also added to or reduced their stakes in FERG. Manchester Capital Management LLC grew its position in shares of Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company's stock valued at $26,000 after acquiring an additional 136 shares during the period. LGT Financial Advisors LLC lifted its stake in Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 102 shares during the last quarter. R Squared Ltd bought a new position in Ferguson during the fourth quarter worth about $45,000. Private Trust Co. NA increased its position in Ferguson by 92.5% during the fourth quarter. Private Trust Co. NA now owns 258 shares of the company's stock worth $45,000 after buying an additional 124 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Ferguson by 259.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 291 shares of the company's stock worth $47,000 after buying an additional 210 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Performance

Shares of FERG traded down $0.65 during mid-day trading on Friday, hitting $182.43. 2,856,524 shares of the company's stock were exchanged, compared to its average volume of 1,626,746. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $225.63. The stock's 50-day simple moving average is $169.02 and its 200-day simple moving average is $177.88. The firm has a market cap of $36.48 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.06). The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.76 billion. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.74 EPS. On average, equities research analysts expect that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The business also recently declared 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. This represents a $3.32 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's dividend payout ratio (DPR) is presently 40.84%.

Wall Street Analysts Forecast Growth

FERG has been the subject of a number of recent analyst reports. Citigroup cut their price objective on Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company increased their price objective on shares of Ferguson from $180.00 to $190.00 and gave the company an "overweight" rating in a research report on Monday, April 14th. Oppenheimer cut their target price on shares of Ferguson from $234.00 to $189.00 and set an "outperform" rating for the company in a research note on Wednesday, March 12th. Morgan Stanley assumed coverage on shares of Ferguson in a research note on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of Ferguson in a report on Monday, March 17th. They issued a "peer perform" rating on the stock. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $200.15.

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.