Moran Wealth Management LLC Takes Position in Ferguson plc (NASDAQ:FERG)

Moran Wealth Management LLC acquired a new position in shares of Ferguson plc (NASDAQ:FERG) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,024 shares of the company’s stock, valued at approximately $4,490,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Grove Bank & Trust raised its stake in shares of Ferguson by 247.4% in the 1st quarter. Grove Bank & Trust now owns 198 shares of the company’s stock valued at $32,000 after purchasing an additional 141 shares during the period. Whipplewood Advisors LLC grew its holdings in shares of Ferguson by 166.7% during the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company’s stock worth $33,000 after buying an additional 130 shares in the last quarter. LGT Financial Advisors LLC raised its position in Ferguson by 106.3% in the 4th quarter. LGT Financial Advisors LLC now owns 198 shares of the company’s stock valued at $34,000 after buying an additional 102 shares during the last quarter. Private Trust Co. NA raised its position in Ferguson by 92.5% in the 4th quarter. Private Trust Co. NA now owns 258 shares of the company’s stock valued at $45,000 after buying an additional 124 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Ferguson by 259.3% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 291 shares of the company’s stock valued at $47,000 after acquiring an additional 210 shares in the last quarter. 81.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FERG. Barclays lifted their price objective on shares of Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a report on Wednesday, June 4th. Truist Financial reaffirmed a “buy” rating and issued a $230.00 target price on shares of Ferguson in a research report on Wednesday, June 4th. Wolfe Research initiated coverage on shares of Ferguson in a research report on Monday, March 17th. They set a “peer perform” rating on the stock. Oppenheimer increased their price objective on shares of Ferguson from $189.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Finally, Royal Bank Of Canada raised their price objective on Ferguson from $189.00 to $231.00 and gave the company an “outperform” rating in a report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.27.

Ferguson Trading Up 0.1%

Ferguson stock opened at $219.27 on Thursday. The stock has a 50-day simple moving average of $187.85 and a 200 day simple moving average of $178.32. The stock has a market capitalization of $43.24 billion, a P/E ratio of 26.32, a PEG ratio of 1.69 and a beta of 1.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $225.63.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, June 3rd. The company reported $2.50 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 quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.32 earnings per share. Analysts expect that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders 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 1.51%. Ferguson’s dividend payout ratio (DPR) is 41.40%.

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.