NorthCrest Asset Manangement LLC Buys New Stake in Ferguson plc $FERG

Key Points

• NorthCrest Asset Management LLC has acquired a new stake in Ferguson plc, purchasing 1,208 shares valued at approximately $270,000.
• Ferguson recently announced a quarterly dividend of $0.83 per share, set to be paid on November 7th, representing a 1.4% yield.
• Analysts have boosted their price targets for Ferguson, with Barclays raising it to $273.00 and ten analysts rating the stock as a Buy.

NorthCrest Asset Manangement LLC bought a new position in shares of Ferguson plc (NASDAQ:FERG - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,208 shares of the company's stock, valued at approximately $270,000.

Other hedge funds have also made changes to their positions in the company. Untitled Investments LP purchased a new position in shares of Ferguson during the first quarter worth about $5,953,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Ferguson by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,932,959 shares of the company's stock worth $309,718,000 after purchasing an additional 205,531 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Ferguson by 14.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock worth $928,000 after acquiring an additional 722 shares during the last quarter. Fiera Capital Corp increased its stake in Ferguson by 37.5% during the first quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock worth $2,090,000 after acquiring an additional 3,559 shares during the last quarter. Finally, Empower Advisory Group LLC purchased a new stake in Ferguson during the 1st quarter worth $843,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Performance

NASDAQ:FERG traded up $3.64 during trading hours on Monday, hitting $233.05. 2,277,412 shares of the company traded hands, compared to its average volume of 1,773,648. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $243.40. The firm has a 50-day moving average of $227.16 and a 200 day moving average of $198.98. The stock has a market capitalization of $45.95 billion, a price-to-earnings ratio of 27.98, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be given a dividend of $0.83 per share. 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 dividend payout ratio (DPR) is 35.55%.

Analysts Set New Price Targets

Several brokerages have weighed in on FERG. Oppenheimer raised their price objective on shares of Ferguson from $235.00 to $255.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their target price on Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Royal Bank Of Canada raised their price objective on Ferguson from $231.00 to $243.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 17th. Wells Fargo & Company upped their price target on Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a research report on Wednesday, September 17th. Finally, Morgan Stanley restated an "overweight" rating on shares of Ferguson in a report on Wednesday, September 10th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $235.71.

Ferguson Company 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.