Ferguson plc (NASDAQ:FERG) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Ferguson plc by 5.7%, now owning 130,972 shares valued at approximately $21 million.
• Analysts have set a range of new price targets for Ferguson, with Barclays and Oppenheimer raising targets to $247.00 and $235.00 respectively, indicating a positive outlook for the stock.
• Ferguson recently declared a quarterly dividend of $0.83, with a total annualized dividend yield of 1.46%, reinforcing its commitment to returning capital to shareholders.

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,972 shares of the company's stock after purchasing an additional 7,019 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.07% of Ferguson worth $20,986,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FERG. Grove Bank & Trust lifted its position in 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 acquiring an additional 141 shares in the last quarter. Whipplewood Advisors LLC lifted its holdings in shares of Ferguson by 166.7% during the 1st quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after buying an additional 130 shares during the period. TD Private Client Wealth LLC increased its stake in shares of Ferguson by 56.5% in the 1st quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock worth $33,000 after purchasing an additional 74 shares in the last quarter. LGT Financial Advisors LLC increased its stake in shares of Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company's stock worth $34,000 after purchasing an additional 102 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Ferguson in the 1st quarter worth $46,000. Hedge funds and other institutional investors own 81.98% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on FERG. Berenberg Bank restated a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a research note on Thursday, June 5th. UBS Group upped their price objective on Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group began coverage on Ferguson in a research note on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective for the company. Barclays upped their price objective on Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Finally, Oppenheimer upped their price objective on Ferguson from $189.00 to $235.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $220.64.

Ferguson Trading Down 1.0%

Shares of FERG stock traded down $2.28 on Friday, reaching $221.05. 585,471 shares of the company's stock were exchanged, compared to its average volume of 1,762,588. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $228.80. 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 market capitalization of $43.59 billion, a PE ratio of 26.56, a P/E/G ratio of 1.69 and a beta of 1.17. The company's fifty day simple moving average is $213.77 and its 200 day simple moving average is $185.94.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share (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%. During the same period in the previous year, the company earned $2.32 EPS. The business's revenue was up 4.3% compared to the same quarter last year. As a group, analysts forecast that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, June 20th. This represents a $3.32 dividend on an annualized basis 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.