Skandinaviska Enskilda Banken AB publ Acquires 1,200 Shares of Ferguson plc (NASDAQ:FERG)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Ferguson plc by 3.0%, purchasing an additional 1,200 shares for a total of 41,846 shares valued at approximately $6.7 million.
• Ferguson recently announced a quarterly dividend of $0.83 per share, reflecting an annualized dividend yield of 1.48% and a payout ratio of 41.40%.
• In terms of performance, Ferguson reported a better-than-expected EPS of $2.50 for the last quarter, exceeding the consensus estimate by $0.44, with a net margin of 5.68% and revenue growth of 4.3% year-over-year.

Skandinaviska Enskilda Banken AB publ lifted its position in Ferguson plc (NASDAQ:FERG - Free Report) by 3.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,846 shares of the company's stock after acquiring an additional 1,200 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Ferguson were worth $6,705,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. LGT Financial Advisors LLC grew its position in Ferguson by 106.3% in the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 102 shares in the last quarter. Grove Bank & Trust raised its holdings in Ferguson by 247.4% during the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock worth $32,000 after acquiring an additional 141 shares in the last quarter. TD Private Client Wealth LLC boosted its position 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. Whipplewood Advisors LLC increased its position 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 purchasing an additional 130 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Ferguson in the 1st quarter valued at approximately $46,000. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Down 0.5%

FERG stock traded down $1.15 during mid-day trading on Thursday, reaching $224.32. 220,040 shares of the company traded hands, compared to its average volume of 1,765,959. The stock has a market cap of $44.23 billion, a price-to-earnings ratio of 26.94, a P/E/G ratio of 1.69 and a beta of 1.17. The firm's 50 day moving average price is $212.90 and its 200 day moving average price is $185.58. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $228.80. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83.

Ferguson (NASDAQ:FERG - Get Free Report) last issued 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 firm's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.32 earnings per share. As a group, equities research analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be paid a dividend of $0.83 per share. 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 payout ratio is currently 41.40%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FERG. The Goldman Sachs Group started coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target on the stock. Oppenheimer increased their price objective on shares of Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. Royal Bank Of Canada upped their price target on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Wells Fargo & Company boosted their price objective on Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, UBS Group increased their price objective on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $220.64.

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.