Allworth Financial LP Boosts Stock Position in Ferguson plc (NASDAQ:FERG)

Allworth Financial LP increased its holdings in Ferguson plc (NASDAQ:FERG) by 132.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 318 shares of the company’s stock after purchasing an additional 181 shares during the period. Allworth Financial LP’s holdings in Ferguson were worth $54,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FERG. Norges Bank purchased a new position in shares of Ferguson in the 4th quarter worth approximately $469,730,000. Barclays PLC lifted its position in 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 buying an additional 1,811,287 shares during the last quarter. FMR LLC boosted its stake in Ferguson by 18.2% during the fourth quarter. FMR LLC now owns 10,007,892 shares of the company’s stock worth $1,740,049,000 after buying an additional 1,539,889 shares during the period. Bank of New York Mellon Corp increased its position in Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company’s stock valued at $1,227,410,000 after acquiring an additional 1,506,024 shares during the last quarter. Finally, Schroder Investment Management Group bought a new position in Ferguson during the fourth quarter valued at $239,539,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of FERG stock opened at $222.57 on Friday. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $226.63. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $205.75 and a two-hundred day simple moving average of $182.71. The stock has a market capitalization of $43.89 billion, a price-to-earnings ratio of 26.72, a P/E/G ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG) last released its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, topping 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%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $2.32 earnings per share. On average, analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

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

Analysts Set New Price Targets

FERG has been the subject of several analyst reports. Berenberg Bank restated a “hold” rating and issued a $215.00 target price on shares of Ferguson in a report on Thursday, June 5th. Wells Fargo & Company boosted their target price on Ferguson from $230.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Barclays upped their target price on Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a research note on Wednesday, June 4th. The Goldman Sachs Group started coverage on Ferguson in a research note on Wednesday, June 18th. They set a “buy” rating and a $280.00 price target for the company. Finally, Morgan Stanley restated an “overweight” rating and set a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a report on Monday, June 9th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.64.

Ferguson Company 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.