Moran Wealth Management LLC Purchases New Shares in Ferguson plc (NASDAQ:FERG)

Moran Wealth Management LLC purchased a new position in shares of Ferguson plc (NASDAQ:FERG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 28,024 shares of the company’s stock, valued at approximately $4,490,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. PBMares Wealth Management LLC acquired a new position in shares of Ferguson during the 1st quarter worth approximately $550,000. Asset Management One Co. Ltd. grew its position in Ferguson by 5.0% during the first quarter. Asset Management One Co. Ltd. now owns 76,117 shares of the company’s stock worth $12,196,000 after buying an additional 3,599 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Ferguson by 121.6% during the first quarter. Oppenheimer & Co. Inc. now owns 8,566 shares of the company’s stock worth $1,373,000 after buying an additional 4,700 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Ferguson by 47.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 46,767 shares of the company’s stock worth $7,493,000 after acquiring an additional 15,108 shares during the period. Finally, Live Oak Private Wealth LLC raised its holdings in Ferguson by 2.1% in the 1st quarter. Live Oak Private Wealth LLC now owns 17,140 shares of the company’s stock valued at $2,746,000 after acquiring an additional 358 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Price Performance

FERG stock opened at $219.27 on Thursday. 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 50-day moving average is $187.85 and its 200-day moving average is $178.32. The stock has a market capitalization of $43.24 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.69 and a beta of 1.13. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $225.63.

Ferguson (NASDAQ:FERG) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share 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%. During the same quarter in the prior year, the company posted $2.32 EPS. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts expect that Ferguson plc will post 9.4 EPS 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 issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Friday, June 20th. Ferguson’s dividend payout ratio is currently 41.40%.

Analyst Ratings Changes

Several research firms have recently issued reports on FERG. Wolfe Research started coverage on Ferguson in a report on Monday, March 17th. They set a “peer perform” rating on the stock. Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Wells Fargo & Company upped their price target on shares of Ferguson from $190.00 to $230.00 and gave the stock an “overweight” rating in a report on Wednesday, June 4th. Berenberg Bank reiterated a “hold” rating and set a $215.00 price target on shares of Ferguson in a research report on Thursday, June 5th. Finally, UBS Group boosted their price objective on shares of Ferguson from $173.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson has an average rating of “Moderate Buy” and a consensus price target of $221.27.

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.