Cerity Partners LLC Grows Holdings in Ferguson plc (NASDAQ:FERG)

Cerity Partners LLC grew its stake in shares of Ferguson plc (NASDAQ:FERG) by 68.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,671 shares of the company’s stock after acquiring an additional 6,361 shares during the period. Cerity Partners LLC’s holdings in Ferguson were worth $2,511,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Ferguson by 18.2% during the 4th quarter. FMR LLC now owns 10,007,892 shares of the company’s stock valued at $1,740,049,000 after purchasing an additional 1,539,889 shares during the period. Bank of New York Mellon Corp boosted its stake in Ferguson by 24.5% during the 1st 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 purchasing an additional 1,506,024 shares during the period. Invesco Ltd. boosted its stake in Ferguson by 25.9% during the 4th quarter. Invesco Ltd. now owns 5,991,445 shares of the company’s stock valued at $1,039,935,000 after purchasing an additional 1,231,120 shares during the period. Janus Henderson Group PLC boosted its stake in Ferguson by 1.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company’s stock valued at $856,746,000 after purchasing an additional 62,887 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Ferguson by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,215,657 shares of the company’s stock valued at $557,082,000 after purchasing an additional 18,036 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Trading Up 1.7%

Shares of Ferguson stock opened at $222.57 on Friday. The stock has a market capitalization of $43.89 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.17. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a 50-day simple moving average of $205.75 and a 200 day simple moving average of $182.78. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $226.63.

Ferguson (NASDAQ:FERG) last announced 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%. During the same period in the prior year, the firm earned $2.32 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. Research analysts expect that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Friday, June 20th will be paid 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%.

Wall Street Analyst Weigh In

A number of analysts recently commented on FERG shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Ferguson in a report on Tuesday, April 1st. They issued a “hold” rating and a $174.00 target price on the stock. Berenberg Bank reissued a “hold” rating and issued a $215.00 target price on shares of Ferguson in a research report on Thursday, June 5th. JPMorgan Chase & Co. upped their price objective 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. Morgan Stanley reiterated an “overweight” rating and issued a $220.00 price objective (up previously from $195.00) on shares of Ferguson in a research note on Monday, June 9th. Finally, Royal Bank Of Canada increased their price target on shares of Ferguson from $189.00 to $231.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.