Teacher Retirement System of Texas Boosts Stock Holdings in Ferguson plc (NASDAQ:FERG)

Teacher Retirement System of Texas boosted its stake in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 1,456.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,238 shares of the company's stock after acquiring an additional 27,360 shares during the period. Teacher Retirement System of Texas' holdings in Ferguson were worth $4,685,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC raised its position in Ferguson by 85.6% during the first quarter. Moody Lynn & Lieberson LLC now owns 45,374 shares of the company's stock valued at $7,270,000 after purchasing an additional 20,926 shares in the last quarter. Phraction Management LLC acquired a new stake in Ferguson in the first quarter valued at about $3,949,000. DAVENPORT & Co LLC grew its position in Ferguson by 19.8% in the first quarter. DAVENPORT & Co LLC now owns 35,149 shares of the company's stock valued at $5,632,000 after acquiring an additional 5,819 shares during the last quarter. Cidel Asset Management Inc. lifted its holdings in shares of Ferguson by 6.5% in the first quarter. Cidel Asset Management Inc. now owns 1,284 shares of the company's stock worth $206,000 after acquiring an additional 78 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Ferguson by 94.6% in the 1st quarter. Vontobel Holding Ltd. now owns 2,402,527 shares of the company's stock valued at $384,957,000 after purchasing an additional 1,167,751 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Down 1.7%

Shares of FERG stock traded down $3.77 during mid-day trading on Friday, reaching $220.63. 1,092,810 shares of the company's stock traded hands, compared to its average volume of 1,679,761. The company's 50-day moving average price is $199.88 and its 200-day moving average price is $180.90. The company has a market cap of $43.50 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.69 and a beta of 1.17. 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 $226.63.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results 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%. During the same period last year, the firm posted $2.32 earnings per share. The company's revenue was up 4.3% compared to the same quarter last year. On average, equities analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date is Friday, June 20th. Ferguson's payout ratio is 41.40%.

Analyst Ratings Changes

A number of analysts have recently commented on FERG shares. UBS Group lifted their price target on Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Wells Fargo & Company boosted their target price on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferguson in a research note on Tuesday, April 1st. They set a "hold" rating and a $174.00 price target for the company. Morgan Stanley reissued an "overweight" rating and issued a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Finally, Royal Bank Of Canada increased their price objective on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Ferguson currently has an average rating of "Moderate Buy" and an average price target of $222.60.

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.