Zimmer Partners LP Makes New Investment in Ferguson plc $FERG

Key Points

• Zimmer Partners LP acquired a new stake in Ferguson plc (NASDAQ:FERG), purchasing 22,500 shares valued at about $3,605,000 during the first quarter.
• Institutional investors hold 81.98% of Ferguson's stock, with notable increases in stakes from firms like Vanguard Group (4.4% increase) and T. Rowe Price (101.1% increase) in Q1.
• Ferguson shares currently trade at approximately $237.40, with a market capitalization of $46.81 billion and an average analyst rating of "Moderate Buy" with a target price of $221.00.

Zimmer Partners LP purchased a new position in Ferguson plc (NASDAQ:FERG - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 22,500 shares of the company's stock, valued at approximately $3,605,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FERG. Untitled Investments LP bought a new stake in shares of Ferguson during the first quarter valued at approximately $5,953,000. Mirae Asset Global Investments Co. Ltd. lifted its position 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 acquiring an additional 722 shares during the last quarter. Fiera Capital Corp lifted its position in Ferguson by 37.5% during the 1st quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock worth $2,090,000 after acquiring an additional 3,559 shares during the last quarter. Empower Advisory Group LLC acquired a new position in Ferguson during the 1st quarter worth $843,000. Finally, Ground Swell Capital LLC acquired a new position in shares of Ferguson during the first quarter valued at about $299,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Down 6.4%

NASDAQ FERG traded down $14.49 on Friday, hitting $211.23. 4,185,406 shares of the company were exchanged, compared to its average volume of 1,721,694. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a fifty day moving average of $226.61 and a 200-day moving average of $196.47. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $243.40. The company has a market cap of $41.65 billion, a PE ratio of 25.36, a PEG ratio of 1.69 and a beta of 1.15.

Ferguson Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, September 26th. Ferguson's dividend payout ratio (DPR) is 41.40%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Truist Financial reaffirmed a "buy" rating and set a $230.00 price objective on shares of Ferguson in a research note on Wednesday, June 4th. Berenberg Bank restated a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Oppenheimer increased their target price on shares of Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Wells Fargo & Company raised their price objective on shares of Ferguson from $230.00 to $250.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada raised their price objective on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $221.00.

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.