Ferguson plc (NASDAQ:FERG) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in shares of Ferguson plc (NASDAQ:FERG) by 30.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,774 shares of the company’s stock after purchasing an additional 644 shares during the period. GAMMA Investing LLC’s holdings in Ferguson were worth $551,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Richardson Financial Services Inc. purchased a new position in Ferguson during the 4th quarter worth $25,000. EdgeRock Capital LLC acquired a new position in shares of Ferguson during the second quarter valued at about $32,000. MCF Advisors LLC purchased a new position in shares of Ferguson in the 1st quarter valued at approximately $47,000. Versant Capital Management Inc boosted its stake in Ferguson by 2,462.5% in the 2nd quarter. Versant Capital Management Inc now owns 410 shares of the company’s stock worth $79,000 after purchasing an additional 394 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Ferguson during the 2nd quarter worth approximately $105,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays raised their price target on shares of Ferguson from $229.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Royal Bank of Canada raised their target price on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Robert W. Baird increased their price objective on Ferguson from $222.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, September 18th. Wells Fargo & Company reduced their price objective on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Finally, UBS Group upped their target price on Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus target price of $231.57.

Ferguson Price Performance

NASDAQ:FERG opened at $194.65 on Wednesday. The stock has a market capitalization of $39.07 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 3.26 and a beta of 1.20. Ferguson plc has a 52 week low of $147.62 and a 52 week high of $225.63. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The stock’s 50-day moving average price is $201.24 and its 200-day moving average price is $205.99.

Ferguson (NASDAQ:FERG) last announced its earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.12. The firm had revenue of $7.95 billion for the quarter, compared to analyst estimates of $8.01 billion. Ferguson had a return on equity of 36.53% and a net margin of 5.85%. The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.77 EPS. As a group, equities analysts expect that Ferguson plc will post 9.86 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.79 per share. The ex-dividend date is Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.62%. Ferguson’s dividend payout ratio is currently 34.54%.

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.