DAVENPORT & Co LLC Acquires 23,023 Shares of Ferguson plc $FERG

DAVENPORT & Co LLC raised its holdings in Ferguson plc (NYSE:FERG) by 65.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,172 shares of the company’s stock after acquiring an additional 23,023 shares during the period. DAVENPORT & Co LLC’s holdings in Ferguson were worth $12,667,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Simplicity Wealth LLC acquired a new stake in shares of Ferguson in the 2nd quarter valued at approximately $410,000. OLD National Bancorp IN acquired a new position in Ferguson during the 2nd quarter worth approximately $249,000. Boston Common Asset Management LLC lifted its stake in Ferguson by 75.1% in the 2nd quarter. Boston Common Asset Management LLC now owns 3,192 shares of the company’s stock valued at $695,000 after purchasing an additional 1,369 shares during the last quarter. 111 Capital acquired a new stake in Ferguson in the second quarter valued at approximately $2,380,000. Finally, Franklin Street Advisors Inc. NC boosted its position in Ferguson by 11.6% in the second quarter. Franklin Street Advisors Inc. NC now owns 2,593 shares of the company’s stock valued at $565,000 after buying an additional 269 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of FERG opened at $234.87 on Tuesday. The business’s 50-day moving average is $228.41. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $46.07 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 1.91 and a beta of 1.17. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40.

Ferguson (NYSE:FERG) last released its earnings results on Tuesday, September 16th. The company reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.00 by $0.48. The business had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Ferguson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FERG shares. Oppenheimer upped their price target on shares of Ferguson from $235.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Ferguson in a research report on Saturday, September 27th. Morgan Stanley restated an “overweight” rating on shares of Ferguson in a report on Wednesday, September 10th. JPMorgan Chase & Co. upped their price objective on Ferguson from $220.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Finally, Truist Financial raised their price objective on shares of Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $235.71.

Ferguson Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.