Oppenheimer & Co. Inc. Purchases 4,700 Shares of Ferguson plc (NASDAQ:FERG)

Oppenheimer & Co. Inc. grew its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 121.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 8,566 shares of the company's stock after acquiring an additional 4,700 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Ferguson were worth $1,373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mission Wealth Management LP lifted its position in shares of Ferguson by 2.2% during the 1st quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock worth $489,000 after buying an additional 67 shares during the last quarter. James Hambro & Partners LLP lifted its position in shares of Ferguson by 1.1% during the 1st quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock worth $1,011,000 after buying an additional 70 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of Ferguson by 6.5% during the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock worth $211,000 after buying an additional 74 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Ferguson by 1.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company's stock worth $1,109,000 after buying an additional 80 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Ferguson by 41.1% during the 4th quarter. Assetmark Inc. now owns 333 shares of the company's stock worth $58,000 after buying an additional 97 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FERG shares. The Goldman Sachs Group started coverage on Ferguson in a report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 target price for the company. Morgan Stanley reaffirmed an "overweight" rating and issued a $220.00 target price (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. Truist Financial reaffirmed a "buy" rating and issued a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. JPMorgan Chase & Co. upped their target price on Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Finally, Citigroup lowered their target price on Ferguson from $189.00 to $168.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $221.27.

Ferguson Trading Up 1.4%

Shares of FERG stock traded up $3.03 on Tuesday, hitting $220.78. The company had a trading volume of 1,954,091 shares, compared to its average volume of 1,672,474. The stock's 50-day moving average is $192.31 and its two-hundred day moving average is $178.80. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $225.63. The firm has a market cap of $43.53 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Ferguson (NASDAQ:FERG - Get Free Report) last released its 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 return on equity of 34.63% and a net margin of 5.68%. During the same quarter in the previous year, the company earned $2.32 earnings per share. The firm's revenue was up 4.3% on a year-over-year basis. On average, equities research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.50%. Ferguson's dividend payout ratio is currently 41.40%.

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.