Nuveen LLC Purchases New Shares in Ferguson plc (NASDAQ:FERG)

Key Points

• Nuveen LLC has invested $128.64 million in Ferguson plc, acquiring 806,226 shares and owning 0.40% of the company as of the latest SEC reporting.
• Ferguson's stock price has varied significantly over the past year, reaching a twelve-month low of $146.00 and a high of $228.80, with a current price of $222.43.
• The company also announced a quarterly dividend of $0.83 per share, representing an annualized dividend yield of 1.5% and a payout ratio of 41.40%.

Nuveen LLC purchased a new position in Ferguson plc (NASDAQ:FERG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 806,226 shares of the company's stock, valued at approximately $128,642,000. Nuveen LLC owned 0.40% of Ferguson at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Grove Bank & Trust raised its holdings in shares of Ferguson by 247.4% during the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after acquiring an additional 141 shares during the last quarter. Whipplewood Advisors LLC grew its position in shares of Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares in the last quarter. TD Private Client Wealth LLC grew its position 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 acquiring an additional 74 shares during the period. LGT Financial Advisors LLC grew its position in Ferguson by 106.3% in the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after acquiring an additional 102 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Ferguson during the first quarter worth $46,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Price Performance

Shares of NASDAQ FERG traded up $3.69 during trading on Friday, reaching $231.71. The company had a trading volume of 1,686,819 shares, compared to its average volume of 1,723,971. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $232.11. The stock has a market cap of $45.69 billion, a PE ratio of 27.82, a PEG ratio of 1.69 and a beta of 1.16. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The business's 50 day moving average price is $220.99 and its 200-day moving average price is $189.41.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping 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%. During the same quarter in the previous year, the business posted $2.32 earnings per share. The business's quarterly revenue was up 4.3% compared to the same quarter last year. Analysts expect that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th were issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, June 20th. Ferguson's dividend payout ratio is 41.40%.

Wall Street Analysts Forecast Growth

FERG has been the subject of several research analyst reports. Berenberg Bank restated a "hold" rating and set a $215.00 price target on shares of Ferguson in a research report on Thursday, June 5th. JPMorgan Chase & Co. increased their price objective on Ferguson from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. Truist Financial reiterated a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a research note on Wednesday, June 4th. Wells Fargo & Company increased their price objective on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Barclays increased their price objective on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research note on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $220.64.

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.