Raleigh Capital Management Inc. Purchases New Stake in Ferguson plc $FERG

Key Points

• Raleigh Capital Management Inc. has acquired a new stake in Ferguson plc, purchasing 1,207 shares valued at approximately $263,000.
• The company announced a quarterly dividend of $0.83 per share, reflecting an annualized dividend of $3.32 and a yield of 1.5%, payable on November 7th.
• Ferguson plc’s stock currently holds a consensus rating of “Moderate Buy” with an average price target of $235.71, according to recent analyst reports.

Raleigh Capital Management Inc. acquired a new position in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,207 shares of the company's stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Grove Bank & Trust boosted its position in shares of Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after purchasing an additional 141 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in shares of Ferguson by 166.7% in the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares during the period. TD Private Client Wealth LLC boosted its holdings in Ferguson by 56.5% during the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after buying an additional 74 shares in the last quarter. Brooklyn Investment Group boosted its holdings in Ferguson by 103.6% during the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after buying an additional 115 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in Ferguson by 230.8% during the second quarter. Fifth Third Bancorp now owns 172 shares of the company's stock worth $37,000 after buying an additional 120 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Stock Down 0.3%

Shares of NASDAQ:FERG opened at $224.30 on Wednesday. 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 company has a market capitalization of $44.23 billion, a P/E ratio of 26.93, a P/E/G ratio of 1.69 and a beta of 1.15. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $243.40. The stock's fifty day simple moving average is $227.97 and its 200-day simple moving average is $201.52.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson's dividend payout ratio (DPR) is currently 35.55%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FERG shares. Royal Bank Of Canada lifted their price target on shares of Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research report on Wednesday, September 17th. Berenberg Bank reaffirmed a "hold" rating and set a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Robert W. Baird boosted their target price on Ferguson from $260.00 to $262.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. The Goldman Sachs Group assumed coverage on Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target for the company. Finally, Barclays boosted their price objective on shares of Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $235.71.

Ferguson 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.

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