Insight Wealth Strategies LLC Makes New Investment in Ferguson plc (NASDAQ:FERG)

Insight Wealth Strategies LLC acquired a new position in shares of Ferguson plc (NASDAQ:FERGFree Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 9,648 shares of the company’s stock, valued at approximately $2,107,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Financial Advocates Investment Management lifted its position in Ferguson by 2.7% during the 4th quarter. Financial Advocates Investment Management now owns 1,995 shares of the company’s stock worth $385,000 after acquiring an additional 52 shares during the period. Weil Company Inc. lifted its holdings in shares of Ferguson by 1.6% in the 4th quarter. Weil Company Inc. now owns 4,327 shares of the company’s stock valued at $835,000 after buying an additional 67 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of Ferguson by 11.3% in the 4th quarter. Global Retirement Partners LLC now owns 701 shares of the company’s stock valued at $131,000 after buying an additional 71 shares during the period. Prudential PLC lifted its holdings in shares of Ferguson by 0.9% in the 4th quarter. Prudential PLC now owns 10,525 shares of the company’s stock valued at $2,032,000 after buying an additional 93 shares during the period. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Ferguson by 26.2% in the 4th quarter. Hexagon Capital Partners LLC now owns 520 shares of the company’s stock valued at $100,000 after buying an additional 108 shares during the period. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Price Performance

FERG stock traded up $1.30 during midday trading on Wednesday, hitting $202.22. 919,684 shares of the stock were exchanged, compared to its average volume of 1,227,468. The stock’s 50-day moving average price is $210.42 and its 200-day moving average price is $202.33. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 8.39 and a beta of 1.23. Ferguson plc has a fifty-two week low of $147.62 and a fifty-two week high of $224.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68.

Ferguson (NASDAQ:FERGGet Free Report) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 36.89% and a net margin of 6.33%. Ferguson’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 earnings per share. Research analysts predict that Ferguson plc will post 9.66 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 14th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.56%. The ex-dividend date is Friday, June 14th. Ferguson’s payout ratio is 34.54%.

Wall Street Analyst Weigh In

Several research firms have recently commented on FERG. Barclays reduced their price target 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 reduced their price target on Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.50.

Check Out Our Latest Research Report on Ferguson

Ferguson Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Ferguson (NASDAQ:FERG)

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