Norden Group LLC Purchases Shares of 7,668 Ferguson plc (NASDAQ:FERG)

Norden Group LLC acquired a new position in shares of Ferguson plc (NASDAQ:FERGFree Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 7,668 shares of the company’s stock, valued at approximately $1,675,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FERG. OneAscent Financial Services LLC boosted its stake in Ferguson by 1.9% in the 1st quarter. OneAscent Financial Services LLC now owns 2,584 shares of the company’s stock valued at $565,000 after purchasing an additional 49 shares during the period. Financial Advocates Investment Management increased its position in Ferguson by 2.7% during the fourth quarter. Financial Advocates Investment Management now owns 1,995 shares of the company’s stock worth $385,000 after acquiring an additional 52 shares during the period. Weil Company Inc. raised its stake in Ferguson by 1.6% in the 4th quarter. Weil Company Inc. now owns 4,327 shares of the company’s stock worth $835,000 after purchasing an additional 67 shares in the last quarter. Global Retirement Partners LLC raised its stake in Ferguson by 11.3% in the 4th quarter. Global Retirement Partners LLC now owns 701 shares of the company’s stock worth $131,000 after purchasing an additional 71 shares in the last quarter. Finally, Prudential PLC grew its position in shares of Ferguson by 0.9% during the 4th quarter. Prudential PLC now owns 10,525 shares of the company’s stock worth $2,032,000 after purchasing an additional 93 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

FERG has been the subject of several recent research reports. Royal Bank of Canada cut their price target on Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. Barclays reduced their target price on Ferguson from $236.00 to $232.00 and set an “overweight” rating on the stock in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $221.50.

Get Our Latest Stock Report on Ferguson

Ferguson Stock Up 0.4 %

Shares of FERG opened at $190.79 on Friday. The firm has a 50 day simple moving average of $205.24 and a two-hundred day simple moving average of $203.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. Ferguson plc has a one year low of $147.62 and a one year high of $224.86. The company has a market cap of $38.53 billion, a P/E ratio of 20.04, a P/E/G ratio of 7.93 and a beta of 1.22.

Ferguson (NASDAQ:FERGGet Free Report) last posted its quarterly earnings results on Tuesday, June 4th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.05. The company had revenue of $7.31 billion during the quarter, compared to analysts’ expectations of $7.32 billion. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. Ferguson’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 EPS. Research analysts forecast that Ferguson plc will post 9.66 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 14th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, June 14th. Ferguson’s dividend payout ratio (DPR) is presently 34.54%.

Ferguson Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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