Principal Street Partners LLC Has $229,000 Position in Ferguson plc (NASDAQ:FERG)

Principal Street Partners LLC raised its stake in shares of Ferguson plc (NASDAQ:FERG) by 8.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,320 shares of the company’s stock after purchasing an additional 108 shares during the period. Principal Street Partners LLC’s holdings in Ferguson were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FERG. Manchester Capital Management LLC boosted its stake in shares of Ferguson by 906.7% during the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock valued at $26,000 after buying an additional 136 shares during the period. LGT Financial Advisors LLC lifted 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 valued at $34,000 after purchasing an additional 102 shares during the last quarter. Berbice Capital Management LLC acquired a new stake in shares of Ferguson in the 4th quarter valued at $35,000. R Squared Ltd acquired a new stake in shares of Ferguson in the 4th quarter valued at $45,000. Finally, Private Trust Co. NA lifted its stake in shares of Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock valued at $45,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG opened at $182.12 on Wednesday. The company has a market capitalization of $36.41 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14. Ferguson plc has a one year low of $146.00 and a one year high of $225.63. 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 company’s fifty day moving average price is $166.22 and its 200 day moving average price is $179.29.

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

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, March 21st were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $3.32 annualized dividend and a dividend yield of 1.82%. Ferguson’s payout ratio is 40.84%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FERG shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $189.00 price objective on shares of Ferguson in a research note on Tuesday, March 18th. Morgan Stanley started 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. Barclays reduced their price objective on shares of Ferguson from $211.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, March 12th. Wolfe Research started coverage on shares of Ferguson in a research note on Monday, March 17th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ferguson from $205.00 to $190.00 and set an “overweight” rating for the company in a research note on Wednesday, March 19th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.