T. Rowe Price Investment Management Inc. Grows Stock Position in Ferguson plc $FERG

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its holdings in Ferguson plc by purchasing 2,094,029 shares, bringing its total ownership to 4,165,873 shares, valued at approximately $667.5 million.
• Ferguson reported a quarterly earnings per share of $2.50, surpassing analysts' expectations of $2.06, indicating a year-over-year revenue growth of 4.3%.
• The company has announced a quarterly dividend of $0.83 per share, representing a 1.4% dividend yield and a payout ratio of 41.40%.

T. Rowe Price Investment Management Inc. raised its stake in Ferguson plc (NASDAQ:FERG - Free Report) by 101.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,165,873 shares of the company's stock after buying an additional 2,094,029 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.08% of Ferguson worth $667,498,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. US Bancorp DE lifted its position in shares of Ferguson by 0.8% in the first quarter. US Bancorp DE now owns 7,394 shares of the company's stock worth $1,185,000 after purchasing an additional 59 shares in the last quarter. Mission Wealth Management LP increased its holdings in shares of Ferguson by 2.2% in the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company's stock valued at $489,000 after purchasing an additional 67 shares during the last quarter. James Hambro & Partners LLP increased its holdings in shares of Ferguson by 1.1% in the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company's stock valued at $1,011,000 after purchasing an additional 70 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Ferguson by 6.5% in the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock valued at $211,000 after purchasing an additional 74 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Ferguson Stock Up 1.8%

Shares of NASDAQ FERG 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. The stock has a market cap of $45.99 billion, a PE ratio of 28.00, a P/E/G ratio of 1.69 and a beta of 1.16. 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 plc has a 12-month low of $146.00 and a 12-month high of $238.16. The business's 50-day moving average is $222.72 and its 200 day moving average is $191.14.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 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%.During the same period in the prior year, the company earned $2.32 EPS. Ferguson's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

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 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, June 20th. Ferguson's dividend payout ratio is currently 41.40%.

Analyst Ratings Changes

Several equities analysts recently commented on FERG shares. Morgan Stanley restated an "overweight" rating and issued a $220.00 price target (up from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Truist Financial reaffirmed a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a research note on Wednesday, June 4th. Barclays raised their price objective on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 4th. UBS Group lifted their price target on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Royal Bank Of Canada lifted their target price on Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Ferguson currently 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.