Impax Asset Management Group plc Raises Stock Holdings in Ferguson plc $FERG

Impax Asset Management Group plc increased its holdings in shares of Ferguson plc (NYSE:FERG) by 22.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 73,488 shares of the company’s stock after acquiring an additional 13,285 shares during the period. Impax Asset Management Group plc’s holdings in Ferguson were worth $16,504,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Krilogy Financial LLC purchased a new stake in Ferguson in the third quarter worth $502,000. Baader Bank Aktiengesellschaft grew its holdings in shares of Ferguson by 3.4% in the third quarter. Baader Bank Aktiengesellschaft now owns 61,001 shares of the company’s stock worth $13,700,000 after purchasing an additional 2,001 shares during the last quarter. REAP Financial Group LLC purchased a new position in Ferguson in the 3rd quarter worth about $85,000. Candriam S.C.A. lifted its holdings in Ferguson by 0.8% during the 3rd quarter. Candriam S.C.A. now owns 61,882 shares of the company’s stock valued at $13,897,000 after buying an additional 515 shares in the last quarter. Finally, AdvisorShares Investments LLC boosted its position in Ferguson by 40.4% in the 3rd quarter. AdvisorShares Investments LLC now owns 375 shares of the company’s stock valued at $84,000 after buying an additional 108 shares during the period. Institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

FERG has been the topic of a number of research reports. Barclays raised their target price on shares of Ferguson from $267.00 to $278.00 and gave the stock an “overweight” rating in a research report on Thursday, January 15th. Vertical Research began coverage on Ferguson in a report on Monday, October 20th. They set a “buy” rating and a $291.99 price objective on the stock. Jefferies Financial Group upped their target price on Ferguson from $268.00 to $289.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Wells Fargo & Company increased their price target on Ferguson from $275.00 to $280.00 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $253.00.

Ferguson Stock Up 0.7%

Ferguson stock opened at $263.33 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. The firm has a market cap of $51.49 billion, a P/E ratio of 26.60, a P/E/G ratio of 2.17 and a beta of 1.18. The business has a fifty day moving average of $240.16 and a two-hundred day moving average of $236.97. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $265.00.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.07. The business had revenue of $8.17 billion for the quarter. Ferguson had a return on equity of 35.73% and a net margin of 6.28%.The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.45 earnings per share.

Ferguson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, January 2nd will be issued a $0.89 dividend. This is a boost from Ferguson’s previous quarterly dividend of $0.83. This represents a $3.56 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, January 2nd. Ferguson’s dividend payout ratio is presently 35.96%.

About Ferguson

Ferguson (NYSE: FERG) is a multinational distributor specializing in plumbing and heating products and related building supplies, serving professional contractors, builders and industrial customers. The company supplies a broad range of products used in residential, commercial and infrastructure projects, including pipes and fittings, valves and controls, HVAC equipment, waterworks materials, plumbing fixtures, pumps and accessories, as well as complementary electrical and specialty product lines.

Ferguson operates a network of branches and distribution centers that provide inventory, logistics and value-added services to trade customers.