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

Allworth Financial LP increased its holdings in shares of Ferguson plc (NASDAQ:FERG) by 132.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 318 shares of the company’s stock after purchasing an additional 181 shares during the quarter. Allworth Financial LP’s holdings in Ferguson were worth $54,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of FERG. Commonwealth Equity Services LLC raised its stake in Ferguson by 4.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,481 shares of the company’s stock valued at $604,000 after buying an additional 147 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Ferguson by 1.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 14,463 shares of the company’s stock worth $2,510,000 after acquiring an additional 181 shares during the period. Xponance Inc. grew its holdings in shares of Ferguson by 17.5% in the fourth quarter. Xponance Inc. now owns 21,511 shares of the company’s stock worth $3,734,000 after acquiring an additional 3,202 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Ferguson during the fourth quarter valued at $11,929,000. Finally, LPL Financial LLC lifted its holdings in Ferguson by 0.8% in the fourth quarter. LPL Financial LLC now owns 50,779 shares of the company’s stock valued at $8,814,000 after acquiring an additional 387 shares during the period. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Trading Up 1.7%

FERG stock opened at $222.57 on Friday. 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 1-year low of $146.00 and a 1-year high of $226.63. The business has a 50 day simple moving average of $205.75 and a two-hundred day simple moving average of $182.71. The company has a market capitalization of $43.89 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.69 and a beta of 1.17.

Ferguson (NASDAQ:FERG) last issued its earnings results 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 for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.32 earnings per share. Research analysts anticipate that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders 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 dividend yield of 1.49%. Ferguson’s payout ratio is 41.40%.

Analysts Set New Price Targets

Several research firms have recently commented on FERG. Truist Financial reaffirmed a “buy” rating and set a $230.00 price target on shares of Ferguson in a research report on Wednesday, June 4th. UBS Group boosted their price objective on shares of Ferguson from $173.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. Berenberg Bank restated a “hold” rating and issued a $215.00 price objective on shares of Ferguson in a research note on Thursday, June 5th. Barclays lifted their target price on Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Ferguson in a research report on Tuesday, April 1st. They issued a “hold” rating and a $174.00 price target for the company. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and an average price target of $220.64.

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.