Ridgewood Investments LLC Invests $244,000 in Ferguson plc (NASDAQ:FERG)

Key Points

• Ridgewood Investments LLC acquired a new stake in Ferguson plc by purchasing 1,522 shares valued at approximately $244,000 during the first quarter.
• Ferguson recently reported $2.50 per share in earnings, exceeding analysts' expectations, and showed a 4.3% increase in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $0.83 per share, expected to yield 1.48%, with a payout ratio of 41.40% for shareholders of record.

Ridgewood Investments LLC acquired a new position in Ferguson plc (NASDAQ:FERG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,522 shares of the company's stock, valued at approximately $244,000.

A number of other large investors also recently modified their holdings of FERG. Barclays PLC increased its holdings in Ferguson by 208.8% during the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company's stock worth $464,973,000 after purchasing an additional 1,811,287 shares during the last quarter. FMR LLC increased its holdings in Ferguson by 18.2% during the 4th quarter. FMR LLC now owns 10,007,892 shares of the company's stock worth $1,740,049,000 after purchasing an additional 1,539,889 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Ferguson by 24.5% during the 1st quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock worth $1,227,410,000 after purchasing an additional 1,506,024 shares during the last quarter. Schroder Investment Management Group bought a new position in shares of Ferguson during the fourth quarter worth about $239,539,000. Finally, Invesco Ltd. grew its stake in Ferguson by 25.9% in the fourth quarter. Invesco Ltd. now owns 5,991,445 shares of the company's stock worth $1,039,935,000 after purchasing an additional 1,231,120 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Down 0.7%

NASDAQ:FERG traded down $1.56 during trading hours on Thursday, hitting $223.91. 296,735 shares of the company's stock traded hands, compared to its average volume of 1,766,414. The firm has a market cap of $44.15 billion, a P/E ratio of 26.88, a P/E/G ratio of 1.69 and a beta of 1.17. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $228.80. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The stock's fifty day moving average price is $212.90 and its two-hundred day moving average price is $185.58.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share 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%. During the same period in the prior year, the firm earned $2.32 EPS. Ferguson's revenue for the quarter was up 4.3% on a year-over-year basis. On average, research analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's dividend payout ratio (DPR) is presently 41.40%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. 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 for the company. Truist Financial restated a "buy" rating and issued a $230.00 target price on shares of Ferguson in a research note on Wednesday, June 4th. Wells Fargo & Company lifted their target price on Ferguson from $230.00 to $250.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Royal Bank Of Canada boosted their price objective on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Finally, Berenberg Bank restated a "hold" rating and set a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Ferguson has a consensus rating of "Moderate Buy" and a consensus price target of $220.64.

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.