Parallel Advisors LLC Acquires 281 Shares of Ferguson plc $FERG

Parallel Advisors LLC grew its position in Ferguson plc (NASDAQ:FERG) by 25.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,395 shares of the company’s stock after purchasing an additional 281 shares during the period. Parallel Advisors LLC’s holdings in Ferguson were worth $304,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FERG. Tidal Investments LLC lifted its holdings in shares of Ferguson by 9.4% in the fourth quarter. Tidal Investments LLC now owns 4,662 shares of the company’s stock valued at $809,000 after purchasing an additional 400 shares in the last quarter. Waverly Advisors LLC lifted its holdings in shares of Ferguson by 71.7% in the fourth quarter. Waverly Advisors LLC now owns 2,804 shares of the company’s stock valued at $487,000 after purchasing an additional 1,171 shares in the last quarter. Vise Technologies Inc. lifted its holdings in shares of Ferguson by 13.3% in the fourth quarter. Vise Technologies Inc. now owns 5,821 shares of the company’s stock valued at $1,010,000 after purchasing an additional 684 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Ferguson in the fourth quarter valued at about $169,000. Finally, Toronto Dominion Bank lifted its holdings in shares of Ferguson by 1,075.1% in the fourth quarter. Toronto Dominion Bank now owns 28,625 shares of the company’s stock valued at $4,968,000 after purchasing an additional 26,189 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group started coverage on Ferguson in a report on Wednesday, June 18th. They issued a “buy” rating and a $280.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Ferguson in a report on Wednesday, September 10th. JPMorgan Chase & Co. upped their target price on Ferguson from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Oppenheimer upped their target price on Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Royal Bank Of Canada upped their target price on Ferguson from $231.00 to $243.00 and gave the stock an “outperform” rating in a report on Wednesday. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $235.71.

Ferguson Stock Performance

NASDAQ:FERG opened at $229.33 on Friday. The stock’s 50-day simple moving average is $226.91 and its 200 day simple moving average is $198.30. The firm has a market capitalization of $45.22 billion, a PE ratio of 27.53, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $243.40.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson’s dividend payout ratio (DPR) is 35.55%.

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.