Smithfield Trust Co Makes New $207,000 Investment in Ferguson plc (NASDAQ:FERG)

Key Points

• Smithfield Trust Co has acquired 1,296 shares of Ferguson plc, valued at approximately $207,000, marking a new position during the first quarter.
• Ferguson's stock has received positive analyst ratings, with Wells Fargo raising the price target from $230.00 to $250.00 and Goldman Sachs initiating coverage with a "buy" rating and target price of $280.00.
• The company recently declared a quarterly dividend of $0.83 per share, representing an annualized yield of 1.5% and a payout ratio of 41.40%.

Smithfield Trust Co bought a new position in shares of Ferguson plc (NASDAQ:FERG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,296 shares of the company's stock, valued at approximately $207,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FERG. Grove Bank & Trust grew its position in shares of Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after buying an additional 141 shares during the last quarter. Whipplewood Advisors LLC increased its position in shares of Ferguson by 166.7% during the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after purchasing an additional 130 shares in the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Ferguson by 56.5% in the 1st 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. LGT Financial Advisors LLC boosted its position in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock valued at $34,000 after purchasing an additional 102 shares during the period. Finally, LRI Investments LLC acquired a new position in Ferguson during the first quarter worth approximately $46,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Morgan Stanley reissued an "overweight" rating and set a $220.00 price objective (up from $195.00) on shares of Ferguson in a research report on Monday, June 9th. Royal Bank Of Canada lifted their price objective 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. Berenberg Bank reiterated a "hold" rating and set a $215.00 target price on shares of Ferguson in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group began coverage on Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price target on the stock. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $220.64.

Ferguson Price Performance

Ferguson stock traded up $1.83 during midday trading on Thursday, reaching $224.73. The company's stock had a trading volume of 982,433 shares, compared to its average volume of 1,745,063. The firm has a market capitalization of $44.31 billion, a PE ratio of 26.98, a P/E/G ratio of 1.69 and a beta of 1.16. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $228.80. The stock's 50 day simple moving average is $217.26 and its 200 day simple moving average is $187.26. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.32 earnings per share. On average, equities research analysts forecast that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, June 20th. Ferguson's dividend payout ratio is 41.40%.

About Ferguson

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.