QRG Capital Management Inc. Cuts Stock Position in Ferguson plc (NASDAQ:FERG)

QRG Capital Management Inc. cut its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 39.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,623 shares of the company's stock after selling 20,211 shares during the period. QRG Capital Management Inc.'s holdings in Ferguson were worth $5,067,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in Ferguson by 4.2% during the first quarter. Janney Montgomery Scott LLC now owns 119,688 shares of the company's stock worth $19,178,000 after purchasing an additional 4,808 shares during the period. Mission Wealth Management LP increased its stake in Ferguson by 2.2% during the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock worth $489,000 after purchasing an additional 67 shares during the period. James Hambro & Partners LLP increased its stake in Ferguson by 1.1% during the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock worth $1,011,000 after purchasing an additional 70 shares during the period. Hennessy Advisors Inc. purchased a new stake in Ferguson during the first quarter worth about $2,419,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Ferguson by 25.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,188 shares of the company's stock worth $1,312,000 after purchasing an additional 1,645 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

Shares of Ferguson stock opened at $211.64 on Wednesday. The firm has a market capitalization of $41.73 billion, a P/E ratio of 25.41, a P/E/G ratio of 1.69 and a beta of 1.13. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $225.63. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The firm's 50 day moving average is $181.60 and its two-hundred day moving average is $178.12.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company's revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.32 EPS. Research analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.57%. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

Analysts Set New Price Targets

FERG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Ferguson in a research note on Tuesday, April 1st. They set a "hold" rating and a $174.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Ferguson from $190.00 to $230.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Truist Financial restated a "buy" rating and set a $230.00 target price on shares of Ferguson in a research note on Wednesday, June 4th. UBS Group upped their target price on shares of Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Finally, Wolfe Research assumed coverage on shares of Ferguson in a research note on Monday, March 17th. They set a "peer perform" rating on the stock. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $217.07.

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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