Franklin Street Advisors Inc. NC Purchases 199 Shares of Ferguson plc (NASDAQ:FERG)

Franklin Street Advisors Inc. NC increased its position in Ferguson plc (NASDAQ:FERG) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,324 shares of the company’s stock after purchasing an additional 199 shares during the quarter. Franklin Street Advisors Inc. NC’s holdings in Ferguson were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in shares of Ferguson by 6.5% in the 4th quarter. Integrated Wealth Concepts LLC now owns 1,214 shares of the company’s stock worth $211,000 after buying an additional 74 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its position in Ferguson by 1.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company’s stock valued at $1,109,000 after acquiring an additional 80 shares during the period. Assetmark Inc. lifted its position in Ferguson by 41.1% during the 4th quarter. Assetmark Inc. now owns 333 shares of the company’s stock valued at $58,000 after acquiring an additional 97 shares during the period. LGT Financial Advisors LLC increased its stake in shares of 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 increased its stake in shares of 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 owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FERG. Barclays raised their target price on shares of Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. JPMorgan Chase & Co. raised their target price on shares of Ferguson from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. Wolfe Research began coverage on shares of Ferguson in a research note on Monday, March 17th. They set a “peer perform” rating for the company. Royal Bank of Canada raised their target price on shares of Ferguson from $189.00 to $231.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Finally, Robert W. Baird set a $190.00 price objective on shares of Ferguson and gave the stock an “outperform” rating in a report on Wednesday, March 12th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.07.

Ferguson Stock Performance

Shares of FERG opened at $216.92 on Wednesday. The firm has a market capitalization of $42.77 billion, a P/E ratio of 26.04, a PEG ratio of 1.69 and a beta of 1.13. 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 plc has a one year low of $146.00 and a one year high of $225.63. The business has a fifty day moving average of $175.66 and a 200 day moving average of $178.16.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate 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 was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.32 EPS. As a group, sell-side analysts anticipate that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders 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 annualized dividend and a yield of 1.53%. Ferguson’s payout ratio is 41.40%.

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.