Ferguson plc $FERG Stock Position Lowered by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB decreased its stake in shares of Ferguson plc (NASDAQ:FERG) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 8,300 shares of the company’s stock after selling 500 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Ferguson were worth $1,807,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Untitled Investments LP bought a new stake in Ferguson in the 1st quarter valued at about $5,953,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Ferguson by 14.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company’s stock valued at $928,000 after buying an additional 722 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of Ferguson by 37.5% during the first quarter. Fiera Capital Corp now owns 13,042 shares of the company’s stock valued at $2,090,000 after purchasing an additional 3,559 shares in the last quarter. Empower Advisory Group LLC purchased a new stake in shares of Ferguson during the 1st quarter valued at about $843,000. Finally, Ground Swell Capital LLC purchased a new stake in Ferguson in the first quarter worth approximately $299,000. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Trading Up 1.3%

NASDAQ:FERG opened at $214.38 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.68 and a debt-to-equity ratio of 0.83. The company has a market cap of $42.27 billion, a PE ratio of 25.74, a P/E/G ratio of 1.69 and a beta of 1.15. Ferguson plc has a 52 week low of $146.00 and a 52 week high of $243.40. The business’s 50 day moving average is $226.45 and its two-hundred day moving average is $196.87.

Ferguson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be issued a $0.83 dividend. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is currently 41.40%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Ferguson from $190.00 to $247.00 and gave the company an “overweight” rating in a research report on Wednesday, June 4th. Truist Financial reiterated a “buy” rating and issued a $230.00 price target on shares of Ferguson in a report on Wednesday, June 4th. Oppenheimer raised their target price on shares of Ferguson from $189.00 to $235.00 and gave the company an “outperform” 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 company an “overweight” rating in a report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price target on Ferguson from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.00.

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.