Wealthquest Corp Buys Shares of 2,538 Ferguson plc (NASDAQ:FERG)

Wealthquest Corp acquired a new stake in Ferguson plc (NASDAQ:FERG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,538 shares of the company's stock, valued at approximately $407,000.

A number of other hedge funds also recently modified their holdings of FERG. Parnassus Investments LLC raised its holdings in Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company's stock valued at $613,944,000 after acquiring an additional 3,198,477 shares during the period. Norges Bank bought a new position in shares of Ferguson during the fourth quarter worth approximately $469,730,000. Barclays PLC lifted its holdings in Ferguson by 208.8% during the 4th quarter. Barclays PLC now owns 2,678,880 shares of the company's stock worth $464,973,000 after purchasing an additional 1,811,287 shares during the last quarter. FMR LLC boosted its stake in Ferguson by 18.2% in the 4th quarter. FMR LLC now owns 10,007,892 shares of the company's stock valued at $1,740,049,000 after purchasing an additional 1,539,889 shares during the period. Finally, Schroder Investment Management Group acquired a new position in Ferguson in the 4th quarter valued at $239,539,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on FERG shares. Truist Financial reissued a "buy" rating and set a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. Robert W. Baird set a $190.00 price target on shares of Ferguson and gave the stock an "outperform" rating in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferguson in a report on Tuesday, April 1st. They issued a "hold" rating and a $174.00 price objective for the company. The Goldman Sachs Group assumed coverage on shares of Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price on the stock. Finally, Royal Bank Of Canada boosted their price target on Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $221.27.

Ferguson Price Performance

NASDAQ:FERG traded up $0.12 during trading hours on Wednesday, hitting $219.27. The company's stock had a trading volume of 1,344,114 shares, compared to its average volume of 1,661,681. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $225.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91. The stock has a fifty day simple moving average of $186.72 and a 200-day simple moving average of $178.04. The company has a market capitalization of $43.24 billion, a P/E ratio of 26.32, a PEG ratio of 1.69 and a beta of 1.13.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating analysts' consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company's quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.32 EPS. On average, analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Friday, June 20th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.51%. Ferguson's payout ratio is presently 41.40%.

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.