Franklin Street Advisors Inc. NC Grows Position in Ferguson plc (NASDAQ:FERG)

Franklin Street Advisors Inc. NC boosted its stake in shares of Ferguson plc (NASDAQ:FERG) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,324 shares of the company’s stock after purchasing an additional 199 shares during the period. Franklin Street Advisors Inc. NC’s holdings in Ferguson were worth $372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted 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 valued at $211,000 after purchasing an additional 74 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Ferguson by 1.3% during 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 purchasing an additional 80 shares in the last quarter. Assetmark Inc. lifted its position in Ferguson by 41.1% during the fourth quarter. Assetmark Inc. now owns 333 shares of the company’s stock valued at $58,000 after purchasing an additional 97 shares in the last quarter. LGT Financial Advisors LLC lifted its position in Ferguson by 106.3% during the fourth quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock valued at $34,000 after purchasing an additional 102 shares in the last quarter. Finally, Inspire Advisors LLC lifted its position in Ferguson by 3.7% during the fourth quarter. Inspire Advisors LLC now owns 3,001 shares of the company’s stock valued at $521,000 after purchasing an additional 108 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Price Performance

NASDAQ:FERG opened at $216.92 on Wednesday. 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 company has a market capitalization of $42.77 billion, a P/E ratio of 26.04, a P/E/G ratio of 1.69 and a beta of 1.13. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $225.63. The business’s 50-day moving average is $175.66 and its 200 day moving average is $178.16.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.44. Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.32 EPS. On average, equities research analysts forecast that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be given a $0.83 dividend. The ex-dividend date is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.53%. Ferguson’s dividend payout ratio is currently 41.40%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FERG shares. Truist Financial reiterated a “buy” rating and set a $230.00 target price on shares of Ferguson in a research report on Wednesday, June 4th. Citigroup lowered their price objective on Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Ferguson in a research report on Tuesday, April 1st. They issued a “hold” rating and a $174.00 price objective on the stock. Robert W. Baird set a $190.00 price objective on Ferguson and gave the company an “outperform” rating in a research report on Wednesday, March 12th. Finally, Berenberg Bank restated a “hold” rating and issued a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus price target of $217.07.

About Ferguson

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.