Waverton Investment Management Ltd Purchases 81,234 Shares of Ferguson plc (NASDAQ:FERG)

Waverton Investment Management Ltd increased its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,092,568 shares of the company's stock after purchasing an additional 81,234 shares during the quarter. Ferguson makes up approximately 2.7% of Waverton Investment Management Ltd's holdings, making the stock its 17th largest holding. Waverton Investment Management Ltd owned about 0.55% of Ferguson worth $175,024,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Perpetual Ltd increased its stake in shares of Ferguson by 462.2% during the first quarter. Perpetual Ltd now owns 268,897 shares of the company's stock valued at $43,085,000 after buying an additional 221,069 shares during the period. Wealthquest Corp bought a new stake in shares of Ferguson during the 1st quarter valued at about $407,000. Lecap Asset Management Ltd. bought a new stake in shares of Ferguson during the 1st quarter valued at about $373,000. Moran Wealth Management LLC purchased a new position in shares of Ferguson during the first quarter valued at about $4,490,000. Finally, PBMares Wealth Management LLC bought a new position in Ferguson in the first quarter worth about $550,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on FERG shares. Truist Financial reaffirmed a "buy" rating and set a $230.00 price objective on shares of Ferguson in a research report on Wednesday, June 4th. Barclays lifted their price target on Ferguson from $190.00 to $247.00 and gave the company an "overweight" rating in a research report on Wednesday, June 4th. Berenberg Bank reiterated a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Robert W. Baird set a $190.00 target price on shares of Ferguson and gave the company an "outperform" rating in a report on Wednesday, March 12th. Finally, Citigroup reduced their target price on shares of Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 12th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Ferguson currently has an average rating of "Moderate Buy" and an average price target of $221.27.

Ferguson Stock Performance

FERG stock opened at $218.32 on Friday. The stock's 50 day simple moving average is $188.93 and its 200 day simple moving average is $178.33. The company has a current ratio of 1.68, a quick ratio of 0.91 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 $225.63. The stock has a market capitalization of $43.05 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the company earned $2.32 EPS. The business's quarterly revenue was up 4.3% on a year-over-year basis. As a group, research analysts forecast 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. Stockholders of record on Friday, June 20th will be paid a $0.83 dividend. The ex-dividend date is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.52%. Ferguson's dividend payout ratio is presently 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.

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