Wills Financial Group LLC Makes New Investment in Ferguson plc (NASDAQ:FERG)

Key Points

• Wills Financial Group LLC made a new investment in Ferguson plc, purchasing 26,729 shares valued at approximately $4.28 million, which represents about 1.9% of Wills Financial's portfolio.
• Several institutional investors increased their stakes in Ferguson plc, with Manning & Napier Advisors LLC raising its holdings by 40.3% in the first quarter.
• Ferguson recently reported earnings of $2.50 EPS, exceeding estimates, and declared a quarterly dividend of $0.83 per share, with a dividend yield of 1.5%.

Wills Financial Group LLC purchased a new position in Ferguson plc (NASDAQ:FERG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 26,729 shares of the company's stock, valued at approximately $4,283,000. Ferguson makes up about 1.9% of Wills Financial Group LLC's portfolio, making the stock its 21st largest holding.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in Ferguson by 14.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock worth $928,000 after purchasing an additional 722 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Ferguson by 24.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock worth $544,000 after buying an additional 657 shares in the last quarter. First Pacific Advisors LP increased its stake in shares of Ferguson by 13.5% during the first quarter. First Pacific Advisors LP now owns 1,251,631 shares of the company's stock worth $200,549,000 after buying an additional 148,891 shares during the period. Fiera Capital Corp raised its holdings in Ferguson by 37.5% in the first quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock valued at $2,090,000 after acquiring an additional 3,559 shares in the last quarter. Finally, Manning & Napier Advisors LLC lifted its stake in Ferguson by 40.3% in the first quarter. Manning & Napier Advisors LLC now owns 35,015 shares of the company's stock worth $5,610,000 after acquiring an additional 10,064 shares during the last quarter. 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 the stock. Royal Bank Of Canada raised their price objective on shares of Ferguson from $189.00 to $231.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. The Goldman Sachs Group started coverage on Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target on the stock. Barclays lifted their price target on Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Truist Financial reiterated a "buy" rating and issued a $230.00 price objective on shares of Ferguson in a report on Wednesday, June 4th. Finally, Morgan Stanley restated an "overweight" rating and set a $220.00 target price (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Ferguson has a consensus rating of "Moderate Buy" and a consensus target price of $220.64.

Ferguson Trading Down 0.6%

FERG opened at $221.89 on Monday. The firm has a market cap of $43.75 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $228.80. The business's 50 day moving average is $214.64 and its two-hundred day moving average is $186.40. 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 (NASDAQ:FERG - Get Free Report) last released its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 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%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $2.32 EPS. On average, research analysts predict that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The company 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 dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.5%. Ferguson's payout ratio is 41.40%.

Ferguson 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.

Want to see what other hedge funds are holding FERG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ferguson plc (NASDAQ:FERG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.