Ferguson plc (NASDAQ:FERG) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in Ferguson plc (NASDAQ:FERG) by 44.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,566 shares of the company’s stock after acquiring an additional 7,610 shares during the period. Principal Financial Group Inc.’s holdings in Ferguson were worth $5,366,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Richardson Financial Services Inc. bought a new stake in shares of Ferguson in the 4th quarter valued at approximately $25,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Ferguson in the 4th quarter worth about $29,000. Venturi Wealth Management LLC boosted its holdings in shares of Ferguson by 60.0% in the 1st quarter. Venturi Wealth Management LLC now owns 136 shares of the company’s stock valued at $30,000 after buying an additional 51 shares during the period. CVA Family Office LLC acquired a new stake in Ferguson during the fourth quarter worth about $31,000. Finally, Private Trust Co. NA lifted its holdings in Ferguson by 146.1% in the fourth quarter. Private Trust Co. NA now owns 187 shares of the company’s stock worth $36,000 after acquiring an additional 111 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors.

Ferguson Price Performance

NASDAQ:FERG remained flat at $189.97 during trading hours on Friday. 433,605 shares of the company were exchanged, compared to its average volume of 1,131,361. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64. The company has a market cap of $38.36 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 7.93 and a beta of 1.22. Ferguson plc has a 12-month low of $147.62 and a 12-month high of $224.86. The business has a 50 day moving average of $205.69 and a 200-day moving average of $203.11.

Ferguson (NASDAQ:FERG) last released its quarterly earnings results 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 company had revenue of $7.31 billion during the quarter, compared to the consensus estimate of $7.32 billion. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. On average, sell-side analysts predict that Ferguson plc will post 9.66 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, June 14th. Ferguson’s payout ratio is presently 34.54%.

Analyst Ratings Changes

FERG has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price objective on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. Barclays reduced their price objective on Ferguson from $236.00 to $232.00 and set an “overweight” rating for the company in a research 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 data from MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.50.

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.