Ferguson plc $FERG is Tran Capital Management L.P.'s 6th Largest Position

Key Points

• Tran Capital Management L.P. reduced its stake in Ferguson plc by 1.5%, now holding 199,174 shares valued at approximately $43.37 million.
• Analysts have increased price targets for Ferguson, with Wells Fargo raising its target from $250 to $275, indicating a strong outlook for the stock.
• Ferguson recently announced a quarterly dividend of $0.83 per share, yielding an annualized dividend of 1.4% with a payout ratio of 35.55%.

Tran Capital Management L.P. decreased its position in Ferguson plc (NASDAQ:FERG - Free Report) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,174 shares of the company's stock after selling 3,115 shares during the quarter. Ferguson accounts for 5.1% of Tran Capital Management L.P.'s portfolio, making the stock its 6th biggest holding. Tran Capital Management L.P. owned approximately 0.10% of Ferguson worth $43,370,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Grove Bank & Trust lifted its position in shares of Ferguson by 247.4% in the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after acquiring an additional 141 shares in the last quarter. Whipplewood Advisors LLC raised its position in shares of Ferguson by 166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after buying an additional 130 shares during the period. TD Private Client Wealth LLC grew its stake in Ferguson by 56.5% in the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Ferguson by 103.6% during the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock valued at $36,000 after buying an additional 115 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in Ferguson during the first quarter worth approximately $43,000. 81.98% of the stock is owned by institutional investors.

Ferguson Trading Up 0.1%

Shares of FERG traded up $0.13 during trading hours on Friday, reaching $229.33. The stock had a trading volume of 2,885,933 shares, compared to its average volume of 1,770,834. The firm has a 50-day moving average of $226.91 and a 200 day moving average of $198.52. The company has a market cap of $45.22 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.69 and a beta of 1.15. 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 52 week low of $146.00 and a 52 week high of $243.40.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.4%. Ferguson's payout ratio is presently 35.55%.

Analysts Set New Price Targets

A number of analysts recently weighed in on FERG shares. Oppenheimer upped their target price on shares of Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of Ferguson from $250.00 to $275.00 and gave the stock an "overweight" rating in a report on Wednesday. Berenberg Bank reiterated a "hold" rating and issued a $215.00 target price on shares of Ferguson in a research note on Thursday, June 5th. UBS Group upped their price objective on shares of Ferguson from $204.00 to $225.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $235.71.

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.