United Capital Financial Advisers LLC raised its stake in shares of Ferguson plc (NASDAQ:FERG – Get Rating) by 1.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 68,805 shares of the company’s stock after acquiring an additional 764 shares during the period. United Capital Financial Advisers LLC’s holdings in Ferguson were worth $7,617,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in FERG. Invesco Ltd. purchased a new stake in Ferguson during the 1st quarter valued at approximately $651,809,000. Royal London Asset Management Ltd. purchased a new stake in Ferguson during the 1st quarter valued at approximately $391,174,000. WCM Investment Management LLC purchased a new stake in Ferguson during the 1st quarter valued at approximately $232,367,000. UBS Group AG grew its holdings in Ferguson by 191.8% during the 2nd quarter. UBS Group AG now owns 1,575,888 shares of the company’s stock valued at $174,467,000 after buying an additional 1,035,819 shares in the last quarter. Finally, First Pacific Advisors LP purchased a new stake in Ferguson during the 2nd quarter valued at approximately $83,342,000. 43.10% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on FERG shares. Truist Financial cut their price objective on shares of Ferguson from $140.00 to $130.00 in a report on Wednesday, September 28th. JPMorgan Chase & Co. cut their target price on shares of Ferguson from £132 ($156.08) to £125 ($147.81) in a report on Friday, September 30th. Robert W. Baird raised their target price on shares of Ferguson from $132.00 to $140.00 in a report on Wednesday, September 28th. Finally, TheStreet raised shares of Ferguson from a “d+” rating to a “c-” rating in a report on Friday, November 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Ferguson presently has a consensus rating of “Hold” and an average price target of $8,091.30.
Ferguson Stock Down 0.2 %
Ferguson Increases Dividend
The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 8th. Investors of record on Friday, October 28th will be given a $1.91 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This is an increase from Ferguson’s previous semi-annual dividend of $0.84. This represents a yield of 2.6%. Ferguson’s dividend payout ratio (DPR) is currently 39.38%.
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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