SPC Financial Inc. Increases Holdings in Ferguson plc (NASDAQ:FERG)

SPC Financial Inc. lifted its stake in Ferguson plc (NASDAQ:FERG) by 9.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,785 shares of the company’s stock after purchasing an additional 250 shares during the period. SPC Financial Inc.’s holdings in Ferguson were worth $608,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Mediolanum International Funds Ltd purchased a new stake in Ferguson in the 1st quarter worth $9,316,000. Markel Group Inc. increased its stake in Ferguson by 49.4% in the 1st quarter. Markel Group Inc. now owns 57,500 shares of the company’s stock worth $12,560,000 after buying an additional 19,000 shares in the last quarter. Whittier Trust Co. increased its stake in Ferguson by 216.4% in the 1st quarter. Whittier Trust Co. now owns 1,006 shares of the company’s stock worth $220,000 after buying an additional 688 shares in the last quarter. Salomon & Ludwin LLC bought a new position in shares of Ferguson during the 1st quarter valued at about $289,000. Finally, Jennison Associates LLC boosted its holdings in shares of Ferguson by 92.1% during the 1st quarter. Jennison Associates LLC now owns 531,316 shares of the company’s stock valued at $116,168,000 after purchasing an additional 254,688 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Up 2.0 %

FERG stock traded up $3.87 during trading on Thursday, hitting $195.47. 1,452,290 shares of the company’s stock traded hands, compared to its average volume of 1,136,471. The firm has a market capitalization of $39.47 billion, a P/E ratio of 20.94, a PEG ratio of 7.96 and a beta of 1.22. Ferguson plc has a 1 year low of $147.62 and a 1 year high of $224.86. 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 business has a fifty day simple moving average of $203.91 and a two-hundred day simple moving average of $203.23.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, June 4th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.05. The company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.32 billion. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. Ferguson’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. Sell-side analysts anticipate that Ferguson plc will post 9.66 EPS for the current year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, June 14th. This represents a $3.16 annualized dividend and a dividend yield of 1.62%. Ferguson’s payout ratio is currently 34.54%.

Analysts Set New Price Targets

FERG has been the subject of several research reports. Royal Bank of Canada dropped their price objective on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Barclays reduced their target price on shares of Ferguson from $236.00 to $232.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $221.50.

Ferguson Profile

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.