Clearbridge Investments LLC Purchases 30,186 Shares of Ferguson plc (NASDAQ:FERG)

Clearbridge Investments LLC lifted its holdings in Ferguson plc (NASDAQ:FERG) by 20.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,231 shares of the company’s stock after acquiring an additional 30,186 shares during the period. Clearbridge Investments LLC’s holdings in Ferguson were worth $34,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Richardson Financial Services Inc. bought a new stake in Ferguson in the fourth quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new stake in Ferguson in the second quarter valued at approximately $32,000. MCF Advisors LLC bought a new stake in shares of Ferguson during the first quarter valued at approximately $47,000. Versant Capital Management Inc raised its position in shares of Ferguson by 2,462.5% during the second quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after purchasing an additional 394 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new stake in Ferguson in the 2nd quarter valued at $105,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Stock Performance

Ferguson stock opened at $191.70 on Friday. The firm’s fifty day moving average price is $203.08 and its 200-day moving average price is $206.67. Ferguson plc has a fifty-two week low of $147.62 and a fifty-two week high of $225.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. The stock has a market cap of $38.48 billion, a P/E ratio of 20.22, a price-to-earnings-growth ratio of 3.28 and a beta of 1.20.

Ferguson (NASDAQ:FERG) last issued its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.86 by $0.12. The company had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a return on equity of 37.03% and a net margin of 5.85%. Ferguson’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.77 EPS. On average, equities research analysts expect that Ferguson plc will post 9.86 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $3.16 annualized dividend and a yield of 1.65%. Ferguson’s payout ratio is 34.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. Citigroup lifted their price target on Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Barclays increased their price objective on Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Royal Bank of Canada raised their price target on shares of Ferguson from $211.00 to $219.00 and gave the company an “outperform” rating in a research report on Wednesday, September 18th. Finally, Jefferies Financial Group upped their target price on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $231.57.

Ferguson Company 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.