Nisa Investment Advisors LLC Boosts Stock Position in Ferguson plc (NASDAQ:FERG)

Nisa Investment Advisors LLC increased its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 3,777.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 17,450 shares of the company's stock after buying an additional 17,000 shares during the quarter. Nisa Investment Advisors LLC's holdings in Ferguson were worth $2,810,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Mission Wealth Management LP increased its position in shares of Ferguson by 2.2% during the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock valued at $489,000 after buying an additional 67 shares during the period. James Hambro & Partners LLP raised its holdings in shares of Ferguson by 1.1% during the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock valued at $1,011,000 after acquiring an additional 70 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Ferguson by 6.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after acquiring an additional 74 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in Ferguson by 6.5% in the first quarter. Cidel Asset Management Inc. now owns 1,284 shares of the company's stock worth $206,000 after purchasing an additional 78 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Performance

NASDAQ:FERG traded down $0.28 on Wednesday, hitting $217.22. The stock had a trading volume of 1,576,513 shares, compared to its average volume of 1,676,426. The stock has a market cap of $42.83 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. 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 business's 50-day simple moving average is $202.77 and its two-hundred day simple moving average is $181.82. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $226.63.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. Ferguson's revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.32 EPS. As a group, research analysts predict that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FERG shares. Deutsche Bank Aktiengesellschaft started coverage on Ferguson in a report on Tuesday, April 1st. They issued a "hold" rating and a $174.00 price objective for the company. Berenberg Bank restated a "hold" rating and set a $215.00 price target on shares of Ferguson in a report on Thursday, June 5th. Truist Financial restated a "buy" rating and set a $230.00 price target on shares of Ferguson in a report on Wednesday, June 4th. Oppenheimer raised their price target on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Finally, Barclays raised their price target on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $222.60.

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.