QRG Capital Management Inc. Cuts Stake in Ferguson plc $FERG

Key Points

• QRG Capital Management Inc. has reduced its stake in Ferguson plc by 33.9%, now holding 20,913 shares valued at approximately $4.55 million.
• Ferguson's stock has received several upgrades from analysts, with a consensus rating of "Moderate Buy" and an average price target of $235.71.
• The company has announced a quarterly dividend of $0.83 per share, which equates to an annualized yield of 1.4%.

QRG Capital Management Inc. reduced its position in shares of Ferguson plc (NYSE:FERG - Free Report) by 33.9% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,913 shares of the company's stock after selling 10,710 shares during the quarter. QRG Capital Management Inc.'s holdings in Ferguson were worth $4,554,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FERG. Franklin Street Advisors Inc. NC raised its holdings in Ferguson by 11.6% in the 2nd quarter. Franklin Street Advisors Inc. NC now owns 2,593 shares of the company's stock worth $565,000 after acquiring an additional 269 shares during the last quarter. Ascent Group LLC increased its holdings in shares of Ferguson by 10.5% in the 2nd quarter. Ascent Group LLC now owns 10,447 shares of the company's stock worth $2,275,000 after purchasing an additional 993 shares in the last quarter. Asset Advisors Investment Management LLC raised its stake in shares of Ferguson by 44.4% in the second quarter. Asset Advisors Investment Management LLC now owns 3,552 shares of the company's stock worth $773,000 after purchasing an additional 1,092 shares during the last quarter. Hilltop National Bank bought a new position in shares of Ferguson during the second quarter valued at $197,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Ferguson during the second quarter valued at $207,000. Institutional investors own 81.98% of the company's stock.

Analysts Set New Price Targets

FERG has been the subject of several research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Ferguson in a report on Saturday, September 27th. Robert W. Baird boosted their price objective on shares of Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a report on Wednesday, September 17th. Wall Street Zen upgraded shares of Ferguson from a "hold" rating to a "buy" rating in a research report on Saturday. UBS Group lifted their target price on shares of Ferguson from $204.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Ferguson from $220.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, Ferguson has a consensus rating of "Moderate Buy" and an average target price of $235.71.

Ferguson Trading Up 1.4%

FERG opened at $234.87 on Tuesday. The stock has a 50 day simple moving average of $228.41. The company has a market capitalization of $46.07 billion, a P/E ratio of 25.15, a PEG ratio of 1.91 and a beta of 1.17. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $243.40. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

Ferguson (NYSE:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, topping the consensus estimate of $3.00 by $0.48. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.44 billion. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. Ferguson's dividend payout ratio (DPR) is 35.55%.

Ferguson Company Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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