Utah Retirement Systems Buys 25,241 Shares of Ferguson plc (NASDAQ:FERG)

Utah Retirement Systems raised its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 233.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,041 shares of the company's stock after acquiring an additional 25,241 shares during the period. Utah Retirement Systems' holdings in Ferguson were worth $6,267,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FERG. Integrated Wealth Concepts LLC grew its position in Ferguson by 6.5% during the fourth quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company's stock worth $211,000 after buying an additional 74 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Ferguson by 1.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company's stock valued at $1,109,000 after buying an additional 80 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Ferguson by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company's stock valued at $4,137,000 after acquiring an additional 86 shares during the period. Caprock Group LLC raised its position in Ferguson by 2.8% during the 4th quarter. Caprock Group LLC now owns 3,496 shares of the company's stock worth $610,000 after purchasing an additional 94 shares during the last quarter. Finally, Assetmark Inc. raised its position in shares of Ferguson by 41.1% during the fourth quarter. Assetmark Inc. now owns 333 shares of the company's stock worth $58,000 after acquiring an additional 97 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Trading Up 0.1 %

Ferguson stock opened at $169.90 on Friday. Ferguson plc has a 52-week low of $146.00 and a 52-week high of $225.63. The company has a market cap of $33.97 billion, a P/E ratio of 20.40, a P/E/G ratio of 1.69 and a beta of 1.17. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The business has a 50-day simple moving average of $164.21 and a two-hundred day simple moving average of $181.49.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.06). Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter last year, the firm posted $1.74 earnings per share. The business's quarterly revenue was up 3.0% compared to the same quarter last year. Analysts predict that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $3.32 dividend on an annualized basis and a yield of 1.95%. Ferguson's dividend payout ratio is currently 40.84%.

Analysts Set New Price Targets

Several analysts have recently weighed in on FERG shares. Morgan Stanley assumed coverage on shares of Ferguson in a research note on Monday, February 3rd. They issued an "overweight" rating and a $204.00 price objective for the company. Citigroup dropped their target price on Ferguson from $189.00 to $168.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Bank of America upgraded shares of Ferguson from an "underperform" rating to a "buy" rating and upped their target price for the stock from $185.00 to $225.00 in a research note on Wednesday, January 8th. Wells Fargo & Company increased their price objective on shares of Ferguson from $180.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, April 14th. Finally, Oppenheimer cut their price target on shares of Ferguson from $234.00 to $189.00 and set an "outperform" rating on the stock in a report on Wednesday, March 12th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $199.38.

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.

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