T. Rowe Price Investment Management Inc. Purchases 2,094,029 Shares of Ferguson plc $FERG

T. Rowe Price Investment Management Inc. increased its position in shares of Ferguson plc (NASDAQ:FERG) by 101.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,165,873 shares of the company’s stock after purchasing an additional 2,094,029 shares during the period. T. Rowe Price Investment Management Inc. owned 2.08% of Ferguson worth $667,498,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. NewEdge Advisors LLC increased its holdings in shares of Ferguson by 6.7% in the 4th quarter. NewEdge Advisors LLC now owns 2,284 shares of the company’s stock worth $397,000 after buying an additional 144 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Ferguson by 10.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 2,582 shares of the company’s stock valued at $448,000 after buying an additional 250 shares during the period. State of Tennessee Department of Treasury raised its holdings in shares of Ferguson by 1.0% in the 4th quarter. State of Tennessee Department of Treasury now owns 115,470 shares of the company’s stock valued at $20,101,000 after purchasing an additional 1,165 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Ferguson by 8.0% in the 4th quarter. Stifel Financial Corp now owns 94,080 shares of the company’s stock valued at $16,330,000 after purchasing an additional 6,949 shares in the last quarter. Finally, SIH Partners LLLP bought a new stake in shares of Ferguson in the 4th quarter valued at about $21,190,000. 81.98% of the stock is currently owned by institutional investors.

Ferguson Trading Up 0.6%

Shares of FERG stock opened at $232.3930 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The stock has a market capitalization of $45.82 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16. The company has a 50 day moving average price of $221.65 and a 200 day moving average price of $190.18. Ferguson plc has a fifty-two week low of $146.00 and a fifty-two week high of $235.12.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.32 earnings per share. Equities research analysts predict that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were paid a dividend of $0.83 per share. The ex-dividend date was Friday, June 20th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson’s payout ratio is presently 41.40%.

Analyst Ratings Changes

Several research firms recently commented on FERG. Berenberg Bank reiterated a “hold” rating and set a $215.00 price objective on shares of Ferguson in a research note on Thursday, June 5th. Royal Bank Of Canada increased their price objective on shares of Ferguson from $189.00 to $231.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 4th. UBS Group increased their price target on shares of Ferguson from $173.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Wells Fargo & Company increased their price target on shares of Ferguson from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 price objective (up from $195.00) on shares of Ferguson in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $220.64.

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.