Argent Capital Management LLC Grows Stock Holdings in Ferguson plc $FERG

Argent Capital Management LLC boosted its stake in shares of Ferguson plc (NASDAQ:FERG) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 155,097 shares of the company’s stock after purchasing an additional 1,939 shares during the quarter. Argent Capital Management LLC’s holdings in Ferguson were worth $33,772,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Tidal Investments LLC lifted its holdings in shares of Ferguson by 9.4% during the 4th quarter. Tidal Investments LLC now owns 4,662 shares of the company’s stock valued at $809,000 after buying an additional 400 shares during the period. Toronto Dominion Bank increased its position in Ferguson by 1,075.1% during the fourth quarter. Toronto Dominion Bank now owns 28,625 shares of the company’s stock valued at $4,968,000 after acquiring an additional 26,189 shares during the last quarter. Ascent Group LLC lifted its holdings in Ferguson by 5.7% in the fourth quarter. Ascent Group LLC now owns 8,466 shares of the company’s stock valued at $1,469,000 after acquiring an additional 458 shares during the period. SWAN Capital LLC lifted its holdings in Ferguson by 44.2% in the fourth quarter. SWAN Capital LLC now owns 793 shares of the company’s stock valued at $138,000 after acquiring an additional 243 shares during the period. Finally, Capital A Wealth Management LLC purchased a new position in Ferguson in the fourth quarter worth about $86,000. Institutional investors own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FERG. The Goldman Sachs Group started coverage on shares of Ferguson in a research report on Wednesday, June 18th. They set a “buy” rating and a $280.00 price target for the company. UBS Group boosted their target price on shares of Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, September 17th. Robert W. Baird upped their target price on shares of Ferguson from $260.00 to $262.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price target on shares of Ferguson from $220.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research report on Wednesday, September 10th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $235.71.

Ferguson Price Performance

Shares of Ferguson stock opened at $233.05 on Tuesday. The firm has a market cap of $45.95 billion, a PE ratio of 27.98, a PEG ratio of 1.69 and a beta of 1.15. The stock has a 50 day moving average of $227.16 and a 200 day moving average of $198.98. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $243.40.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s dividend payout ratio (DPR) is 35.55%.

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.