Osterweis Capital Management Inc. Acquires Shares of 167,164 Ferguson plc $FERG

Key Points

• Osterweis Capital Management Inc. has acquired 167,164 shares of Ferguson plc, valued at approximately $26.8 million, which now represents 0.08% ownership in the company.
• Ferguson plc is seeing increasing interest from institutional investors, with nearly 82% of the company's stock owned by such entities, including several funds that have recently adjusted their stakes.
• The company recently declared a quarterly dividend of $0.83 per share, reflecting a 1.5% yield and a payout ratio of 41.40%, reinforcing its commitment to shareholder returns.

Osterweis Capital Management Inc. acquired a new stake in Ferguson plc (NASDAQ:FERG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 167,164 shares of the company's stock, valued at approximately $26,785,000. Osterweis Capital Management Inc. owned approximately 0.08% of Ferguson at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its position in shares of Ferguson by 16.9% during the 4th quarter. Cetera Investment Advisers now owns 10,452 shares of the company's stock worth $1,814,000 after buying an additional 1,511 shares during the period. Focus Partners Wealth acquired a new stake in shares of Ferguson during the 4th quarter worth approximately $448,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Ferguson by 21.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,322 shares of the company's stock worth $2,139,000 after buying an additional 2,176 shares during the period. Quantinno Capital Management LP grew its position in shares of Ferguson by 31.2% during the 4th quarter. Quantinno Capital Management LP now owns 35,127 shares of the company's stock worth $6,097,000 after buying an additional 8,348 shares during the period. Finally, PointState Capital LP acquired a new stake in shares of Ferguson during the 4th quarter worth approximately $75,641,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FERG. JPMorgan Chase & Co. lifted their price target on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Berenberg Bank reiterated a "hold" rating and set a $215.00 price target on shares of Ferguson in a research report on Thursday, June 5th. Oppenheimer lifted their price target on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 4th. Barclays lifted their price objective on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Ferguson in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Ferguson currently has an average rating of "Moderate Buy" and an average price target of $221.00.

Ferguson Stock Up 0.5%

Ferguson stock opened at $225.22 on Friday. The company's 50 day simple moving average is $226.85 and its 200 day simple moving average is $196.07. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $243.40. The firm has a market capitalization of $44.41 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio is 41.40%.

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.

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