Ferguson plc $FERG Stake Lessened by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC significantly reduced its stake in Ferguson plc by 51.8%, holding 31,825 shares valued at $5.1 million according to its recent SEC filing.
• Ferguson announced a quarterly dividend of $0.83 per share, leading to an annualized dividend of $3.32 and a yield of 1.4%.
• Analysts have set a consensus price target of $235.71 for Ferguson, with multiple firms upgrading their ratings and price targets for the stock.

Voya Investment Management LLC trimmed its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 51.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,825 shares of the company's stock after selling 34,219 shares during the quarter. Voya Investment Management LLC's holdings in Ferguson were worth $5,099,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of FERG. Grove Bank & Trust grew its stake in Ferguson by 247.4% during the 1st quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after purchasing an additional 141 shares during the last quarter. Whipplewood Advisors LLC raised its position in Ferguson by 166.7% during 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 last quarter. TD Private Client Wealth LLC lifted its stake in Ferguson by 56.5% during the 1st 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 during the period. Brooklyn Investment Group lifted its stake in Ferguson by 103.6% during the 1st quarter. Brooklyn Investment Group now owns 226 shares of the company's stock valued at $36,000 after acquiring an additional 115 shares during the period. Finally, SVB Wealth LLC purchased a new stake in shares of Ferguson in the 1st quarter valued at $43,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Analysts Set New Price Targets

FERG has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of Ferguson in a research report on Wednesday, September 10th. Truist Financial upped their price objective on Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday. Royal Bank Of Canada increased their price objective on shares of Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research report on Wednesday. Oppenheimer raised their price objective on shares of Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Robert W. Baird raised their price objective on shares of Ferguson from $260.00 to $262.00 and gave the stock an "outperform" rating in a research report on Wednesday. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $235.71.

Ferguson Trading Up 0.1%

Shares of NASDAQ FERG traded up $0.13 during midday trading on Friday, hitting $229.33. The stock had a trading volume of 2,885,933 shares, compared to its average volume of 1,770,834. The company has a fifty day moving average price of $226.91 and a 200 day moving average price of $198.11. The company has a market capitalization of $45.22 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 1.69 and a beta of 1.15. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $243.40. 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 Dividend Announcement

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

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.