Xcel Wealth Management LLC Buys Shares of 1,511 Ferguson plc (NASDAQ:FERG)

Xcel Wealth Management LLC purchased a new position in shares of Ferguson plc (NASDAQ:FERG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,511 shares of the company's stock, valued at approximately $242,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. LGT Financial Advisors LLC raised its position in shares of Ferguson by 106.3% in the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after acquiring an additional 102 shares during the period. Grove Bank & Trust increased its stake in shares of Ferguson by 247.4% in 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 in the last quarter. Whipplewood Advisors LLC raised its holdings in Ferguson by 166.7% in the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock worth $33,000 after purchasing an additional 130 shares during the period. Private Trust Co. NA raised its holdings in Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company's stock worth $45,000 after purchasing an additional 124 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Ferguson by 259.3% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 291 shares of the company's stock worth $47,000 after purchasing an additional 210 shares in the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Price Performance

FERG traded up $1.76 on Thursday, reaching $223.16. 1,075,399 shares of the company's stock were exchanged, compared to its average volume of 1,676,862. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $225.63. The stock has a market cap of $44.00 billion, a PE ratio of 26.79, a P/E/G ratio of 1.69 and a beta of 1.17. 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's fifty day moving average price is $193.47 and its 200-day moving average price is $179.09.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share 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 company's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.32 EPS. Sell-side analysts expect that Ferguson plc will post 9.4 EPS for the current 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 issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, June 20th. Ferguson's payout ratio is currently 41.40%.

Analyst Ratings Changes

FERG has been the subject of a number of recent analyst reports. Wolfe Research initiated coverage on Ferguson in a research report on Monday, March 17th. They issued a "peer perform" rating for the company. Truist Financial reissued a "buy" rating and issued a $230.00 price target on shares of Ferguson in a research note on Wednesday, June 4th. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the stock an "outperform" rating in a research report on Wednesday, March 12th. The Goldman Sachs Group began coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a "buy" rating and a $280.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Ferguson from $200.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $221.27.

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.