Vinva Investment Management Ltd Purchases 3,860 Shares of Ferguson plc $FERG

Vinva Investment Management Ltd grew its position in shares of Ferguson plc (NYSE:FERG) by 131.2% during the third quarter, Holdings Channel reports. The institutional investor owned 6,803 shares of the company’s stock after purchasing an additional 3,860 shares during the quarter. Vinva Investment Management Ltd’s holdings in Ferguson were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in FERG. CreativeOne Wealth LLC raised its stake in Ferguson by 89.5% in the 3rd quarter. CreativeOne Wealth LLC now owns 4,345 shares of the company’s stock valued at $976,000 after acquiring an additional 2,052 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its position in Ferguson by 267.7% during the third quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 11,400 shares of the company’s stock worth $2,560,000 after purchasing an additional 8,300 shares during the period. Munich Reinsurance Co Stock Corp in Munich bought a new position in Ferguson during the third quarter worth about $8,571,000. Neo Ivy Capital Management purchased a new position in shares of Ferguson in the third quarter worth about $2,517,000. Finally, Neuberger Berman Group LLC increased its stake in shares of Ferguson by 39.3% in the third quarter. Neuberger Berman Group LLC now owns 21,066 shares of the company’s stock worth $4,729,000 after purchasing an additional 5,944 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

Shares of FERG opened at $230.47 on Tuesday. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $271.64. The company has a current ratio of 1.88, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The company has a market cap of $44.83 billion, a PE ratio of 23.28 and a beta of 1.17. The stock has a 50-day moving average price of $248.73 and a 200-day moving average price of $240.70.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 earnings per share for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be issued a $0.89 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is presently 35.96%.

Analyst Ratings Changes

A number of brokerages recently commented on FERG. UBS Group upped their price target on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Ferguson from $237.00 to $246.00 and gave the company a “hold” rating in a research note on Thursday, December 11th. Barclays boosted their target price on shares of Ferguson from $278.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Truist Financial raised their price target on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada lifted their price target on Ferguson from $247.00 to $271.00 and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Ferguson presently has a consensus rating of “Moderate Buy” and an average target price of $262.62.

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.