Shell Asset Management Co. Raises Stock Holdings in Ferguson plc $FERG

Key Points

• Shell Asset Management Co. increased its stake in Ferguson plc by 29.4% during Q2, owning a total of 26,886 shares valued at approximately $5.85 million.
• Ferguson recently reported $3.48 earnings per share for the quarter, surpassing analysts' expectations by $0.48, with a net revenue of $8.50 billion.
• Several analysts have upgraded Ferguson's stock recommendation, with Barclays increasing the price target from $247.00 to $273.00 and maintaining an "overweight" rating.

Shell Asset Management Co. increased its holdings in Ferguson plc (NYSE:FERG - Free Report) by 29.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,886 shares of the company's stock after purchasing an additional 6,110 shares during the period. Shell Asset Management Co.'s holdings in Ferguson were worth $5,854,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FERG. Grove Bank & Trust lifted its stake in shares of Ferguson by 247.4% during the first 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. TD Private Client Wealth LLC increased its stake in Ferguson by 56.5% during the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock worth $36,000 after purchasing an additional 115 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Ferguson by 230.8% during the second quarter. Fifth Third Bancorp now owns 172 shares of the company's stock valued at $37,000 after acquiring an additional 120 shares during the period. Finally, Maseco LLP acquired a new stake in shares of Ferguson in the second quarter valued at approximately $40,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Zacks Research raised Ferguson to a "hold" rating in a report on Friday, August 8th. Wall Street Zen upgraded Ferguson from a "hold" rating to a "buy" rating in a report on Saturday. Royal Bank Of Canada lifted their price objective on shares of Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. Truist Financial boosted their price objective on shares of Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, September 17th. Finally, Barclays increased their price target on shares of Ferguson from $247.00 to $273.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.71.

Ferguson Price Performance

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

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

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio is presently 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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