Corient Private Wealth LLC Increases Holdings in Ferguson plc (NASDAQ:FERG)

Corient Private Wealth LLC increased its stake in Ferguson plc (NASDAQ:FERG) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,655 shares of the company’s stock after acquiring an additional 13,542 shares during the period. Corient Private Wealth LLC owned approximately 0.07% of Ferguson worth $24,246,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its holdings in shares of Ferguson by 906.7% in the 4th quarter. Manchester Capital Management LLC now owns 151 shares of the company’s stock worth $26,000 after purchasing an additional 136 shares during the period. True Wealth Design LLC lifted its position in Ferguson by 1,350.0% in the third quarter. True Wealth Design LLC now owns 145 shares of the company’s stock worth $29,000 after buying an additional 135 shares during the last quarter. Berbice Capital Management LLC purchased a new position in Ferguson during the fourth quarter worth $35,000. Brooklyn Investment Group bought a new position in Ferguson during the third quarter valued at $45,000. Finally, R Squared Ltd purchased a new stake in shares of Ferguson in the fourth quarter valued at $45,000. 81.98% of the stock is owned by institutional investors.

Ferguson Price Performance

NASDAQ FERG opened at $162.62 on Wednesday. The company has a market cap of $32.52 billion, a PE ratio of 19.52, a P/E/G ratio of 1.69 and a beta of 1.28. The firm’s 50 day moving average price is $175.48 and its 200-day moving average price is $189.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a 52-week low of $152.52 and a 52-week high of $225.63.

Ferguson (NASDAQ:FERG) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.06). The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.76 billion. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. The company’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 earnings per share. Sell-side analysts forecast that Ferguson plc will post 9.4 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, March 21st will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, March 21st. Ferguson’s payout ratio is 40.84%.

Wall Street Analysts Forecast Growth

FERG has been the subject of a number of recent analyst reports. Oppenheimer dropped their price target on shares of Ferguson from $234.00 to $189.00 and set an “outperform” rating for the company in a research note on Wednesday, March 12th. Robert W. Baird set a $190.00 price target on Ferguson and gave the stock an “outperform” rating in a report on Wednesday, March 12th. Wells Fargo & Company dropped their price objective on Ferguson from $205.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, March 12th. Barclays reduced their target price on Ferguson from $211.00 to $190.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 12th. Finally, Morgan Stanley started coverage on shares of Ferguson in a report on Monday, February 3rd. They issued an “overweight” rating and a $204.00 price target on the stock. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $201.64.

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.