Ferguson plc (NASDAQ:FERG) Position Boosted by DAVENPORT & Co LLC

DAVENPORT & Co LLC increased its holdings in Ferguson plc (NASDAQ:FERG) by 19.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,149 shares of the company’s stock after purchasing an additional 5,819 shares during the quarter. DAVENPORT & Co LLC’s holdings in Ferguson were worth $5,632,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FERG. Parnassus Investments LLC increased its stake in Ferguson by 944.4% in the 4th quarter. Parnassus Investments LLC now owns 3,537,155 shares of the company’s stock worth $613,944,000 after purchasing an additional 3,198,477 shares in the last quarter. Norges Bank acquired a new position in shares of Ferguson in the fourth quarter worth about $469,730,000. Barclays PLC increased its position in shares of Ferguson by 208.8% in the fourth quarter. Barclays PLC now owns 2,678,880 shares of the company’s stock worth $464,973,000 after acquiring an additional 1,811,287 shares in the last quarter. FMR LLC raised its holdings in shares of Ferguson by 18.2% during the fourth quarter. FMR LLC now owns 10,007,892 shares of the company’s stock valued at $1,740,049,000 after acquiring an additional 1,539,889 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in shares of Ferguson in the 4th quarter valued at approximately $239,539,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Price Performance

Shares of NASDAQ:FERG opened at $223.16 on Friday. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $225.63. The business has a 50-day moving average of $194.54 and a two-hundred day moving average of $179.35. The stock has a market capitalization of $44.00 billion, a P/E ratio of 26.79, a P/E/G ratio of 1.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating 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%. Ferguson’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 business posted $2.32 EPS. On average, equities research analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Friday, June 20th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, June 20th. Ferguson’s payout ratio is 41.40%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Berenberg Bank reiterated a “hold” rating and set a $215.00 price objective on shares of Ferguson in a research report on Thursday, June 5th. Barclays upped their price target on Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. UBS Group increased 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. Citigroup lowered their target price on Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 12th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Ferguson in a research report on Tuesday, April 1st. They issued a “hold” rating and a $174.00 price target for the company. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.27.

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.