Raymond James Financial Inc. Reduces Stock Position in Ferguson plc $FERG

Key Points

• Raymond James Financial Inc. has decreased its stake in Ferguson plc by 41.2%, selling 486,086 shares and owning 694,224 shares worth approximately $111.2 million after the sale.
• Several other institutional investors have also increased their positions in Ferguson, with 81.98% of the stock now owned by institutional investors.
• Analysts are optimistic about Ferguson's stock, with multiple firms raising their target prices, resulting in a consensus price target of $220.64 and a current rating of "Moderate Buy".

Raymond James Financial Inc. decreased its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 41.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 694,224 shares of the company's stock after selling 486,086 shares during the period. Raymond James Financial Inc. owned approximately 0.35% of Ferguson worth $111,236,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in shares of Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after buying an additional 141 shares during the period. Whipplewood Advisors LLC grew its holdings in shares of Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after acquiring an additional 130 shares during the period. TD Private Client Wealth LLC grew its holdings in shares of Ferguson by 56.5% during the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after acquiring an additional 74 shares during the period. LGT Financial Advisors LLC grew its holdings in shares of Ferguson by 106.3% during the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after acquiring an additional 102 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of Ferguson during the 1st quarter worth approximately $46,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Oppenheimer upped their price target on Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group assumed coverage on Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target on the stock. Royal Bank Of Canada upped their price target on Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. UBS Group upped their price target on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Finally, Morgan Stanley restated an "overweight" rating and issued a $220.00 price target (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Stock Performance

Ferguson stock traded up $4.1880 during trading on Friday, reaching $233.2480. The company had a trading volume of 1,664,452 shares, compared to its average volume of 1,703,642. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $238.16. The firm's 50-day simple moving average is $222.72 and its 200 day simple moving average is $191.14. The firm has a market capitalization of $45.99 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83.

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

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th were given a dividend of $0.83 per share. The ex-dividend date was Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson's dividend payout ratio (DPR) is presently 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.