Artemis Investment Management LLP Buys 86,096 Shares of Ferguson plc (NASDAQ:FERG)

Artemis Investment Management LLP increased its stake in shares of Ferguson plc (NASDAQ:FERG) by 32.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 350,750 shares of the company’s stock after buying an additional 86,096 shares during the period. Ferguson accounts for about 1.0% of Artemis Investment Management LLP’s portfolio, making the stock its 26th largest holding. Artemis Investment Management LLP owned 0.17% of Ferguson worth $76,574,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Ferguson by 26.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 33,508 shares of the company’s stock valued at $7,319,000 after acquiring an additional 6,997 shares during the period. DGS Capital Management LLC grew its position in shares of Ferguson by 83.0% during the 1st quarter. DGS Capital Management LLC now owns 2,368 shares of the company’s stock worth $517,000 after purchasing an additional 1,074 shares in the last quarter. Atlas Capital Advisors LLC bought a new position in shares of Ferguson during the first quarter worth approximately $193,000. CHICAGO TRUST Co NA increased its holdings in shares of Ferguson by 5.8% during the first quarter. CHICAGO TRUST Co NA now owns 2,422 shares of the company’s stock worth $529,000 after purchasing an additional 132 shares during the period. Finally, Steph & Co. acquired a new stake in shares of Ferguson in the first quarter valued at approximately $177,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FERG shares. Barclays dropped their price objective on Ferguson from $236.00 to $232.00 and set an “overweight” rating for the company in a report on Wednesday, June 5th. Royal Bank of Canada dropped their price target on Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a research note on Wednesday, June 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.50.

Ferguson Price Performance

Shares of FERG stock traded up $0.09 during trading hours on Friday, reaching $193.55. The company’s stock had a trading volume of 1,657,065 shares, compared to its average volume of 1,141,725. Ferguson plc has a fifty-two week low of $147.62 and a fifty-two week high of $224.86. The firm’s 50 day simple moving average is $207.62 and its 200-day simple moving average is $202.92. 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 $39.09 billion, a price-to-earnings ratio of 21.08, a PEG ratio of 7.97 and a beta of 1.23.

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

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.79 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.63%. Ferguson’s payout ratio is presently 34.54%.

About Ferguson

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.