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

Key Points

• Osterweis Capital Management Inc. has acquired a new stake in Ferguson plc, purchasing 167,164 shares valued at approximately $26.8 million.
• Ferguson's quarterly earnings surpassed expectations, with an EPS of $2.50, exceeding the consensus estimate of $2.06, and a year-over-year revenue increase of 4.3%.
• The company has announced a quarterly dividend of $0.83, resulting in an annualized dividend yield of 1.4%, with a payout ratio of 41.40%.

Osterweis Capital Management Inc. purchased a new stake in Ferguson plc (NASDAQ:FERG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 167,164 shares of the company's stock, valued at approximately $26,785,000. Osterweis Capital Management Inc. owned approximately 0.08% of Ferguson as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of FERG. Grove Bank & Trust lifted its stake in Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after buying an additional 141 shares in the last quarter. Whipplewood Advisors LLC lifted 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 worth $33,000 after purchasing an additional 130 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of 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. LGT Financial Advisors LLC lifted its position in shares of 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 purchasing an additional 102 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in shares of Ferguson by 103.6% in the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after purchasing an additional 115 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Analyst Ratings Changes

FERG has been the topic of a number of research reports. Berenberg Bank reissued a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Oppenheimer boosted their price objective 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. The Goldman Sachs Group initiated coverage on shares of Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective on the stock. Truist Financial reissued a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a research report on Wednesday, June 4th. Finally, UBS Group boosted their price objective on shares of Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Ferguson currently has an average rating of "Moderate Buy" and an average price target of $220.64.

Ferguson Stock Performance

NASDAQ FERG traded up $4.1880 on Friday, hitting $233.2480. 1,664,452 shares of the stock were exchanged, compared to its average volume of 1,703,642. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The business's fifty day moving average is $222.72 and its 200 day moving average is $191.14. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $238.16. The company has a market capitalization of $45.99 billion, a PE ratio of 28.00, a P/E/G ratio of 1.69 and a beta of 1.16.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly 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 net margin of 5.68% and a return on equity of 34.63%. During the same quarter last year, the company earned $2.32 EPS. Ferguson's revenue was up 4.3% on a year-over-year basis. Research analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders 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 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.