Gateway Investment Advisers LLC Increases Stock Position in Ferguson plc (NASDAQ:FERG)

Gateway Investment Advisers LLC lifted its holdings in Ferguson plc (NASDAQ:FERG) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,887 shares of the company’s stock after buying an additional 156 shares during the period. Gateway Investment Advisers LLC’s holdings in Ferguson were worth $1,744,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FERG. Choreo LLC increased its holdings in shares of Ferguson by 4.4% in the 4th quarter. Choreo LLC now owns 5,902 shares of the company’s stock worth $1,024,000 after buying an additional 250 shares during the last quarter. Financial Advocates Investment Management bought a new stake in shares of Ferguson in the 4th quarter worth about $212,000. Equitable Trust Co. grew its holdings in Ferguson by 4.0% during the 4th quarter. Equitable Trust Co. now owns 12,250 shares of the company’s stock valued at $2,126,000 after purchasing an additional 471 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in Ferguson by 339.9% during the 4th quarter. Vontobel Holding Ltd. now owns 1,234,776 shares of the company’s stock valued at $214,320,000 after purchasing an additional 954,092 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in Ferguson by 28.1% during the 4th quarter. V Square Quantitative Management LLC now owns 3,801 shares of the company’s stock valued at $660,000 after purchasing an additional 833 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Trading Down 1.5%

NASDAQ:FERG opened at $211.56 on Monday. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $225.63. The firm has a 50 day moving average of $173.52 and a 200 day moving average of $177.86. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $42.30 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 1.69 and a beta of 1.13.

Ferguson (NASDAQ:FERG) last posted its earnings results on Tuesday, June 3rd. The company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same quarter in the previous year, the business earned $2.32 earnings per share. Ferguson’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate 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 dividend of $0.83 per share. The ex-dividend date is Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a yield of 1.57%. Ferguson’s payout ratio is 41.40%.

Analyst Ratings Changes

Several brokerages recently commented on FERG. Citigroup cut their price target on shares of Ferguson from $189.00 to $168.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Ferguson in a research note on Tuesday, April 1st. They issued a “hold” rating and a $174.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Ferguson from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird set a $190.00 target price on shares of Ferguson and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Finally, Barclays upped their target price on shares of Ferguson from $190.00 to $247.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $215.93.

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.