Venture Visionary Partners LLC Takes Position in Ferguson plc (NASDAQ:FERG)

Venture Visionary Partners LLC acquired a new stake in shares of Ferguson plc (NASDAQ:FERG – Get Rating) during the second quarter, HoldingsChannel reports. The firm acquired 272 shares of the company’s stock, valued at approximately $30,000.

Several other institutional investors have also bought and sold shares of FERG. Invesco Ltd. bought a new position in Ferguson during the 1st quarter valued at $651,809,000. Norges Bank bought a new position in Ferguson during the fourth quarter valued at about $722,808,000. Royal London Asset Management Ltd. acquired a new position in Ferguson during the first quarter worth about $391,174,000. WCM Investment Management LLC bought a new stake in Ferguson in the first quarter worth about $232,367,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Ferguson in the first quarter worth about $161,974,000. Institutional investors and hedge funds own 43.10% of the company’s stock.

Ferguson Stock Performance

Shares of FERG stock opened at $104.33 on Friday. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 11.05 and a beta of 1.29. Ferguson plc has a 1-year low of $102.01 and a 1-year high of $183.67. The company has a current ratio of 1.65, a quick ratio of 0.88 and a debt-to-equity ratio of 0.98. The stock’s fifty day simple moving average is $115.38 and its 200-day simple moving average is $118.39.

Ferguson Increases Dividend

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The firm also recently announced a semi-annual dividend, which will be paid on Thursday, December 8th. Shareholders of record on Friday, October 28th will be paid a dividend of $1.91 per share. This represents a yield of 2.6%. The ex-dividend date of this dividend is Thursday, October 27th. This is a boost from Ferguson’s previous semi-annual dividend of $0.84. Ferguson’s payout ratio is 17.32%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FERG. Robert W. Baird raised their price objective on shares of Ferguson from $132.00 to $140.00 in a research report on Wednesday, September 28th. Barclays decreased their price target on shares of Ferguson from $160.00 to $148.00 in a research report on Thursday, July 14th. JPMorgan Chase & Co. cut their price objective on Ferguson from £132 ($159.50) to £125 ($151.04) in a research report on Friday, September 30th. Truist Financial decreased their target price on Ferguson from $140.00 to $130.00 in a report on Wednesday, September 28th. Finally, Morgan Stanley cut their target price on Ferguson from £127.50 ($154.06) to GBX 8,930 ($107.90) in a research report on Friday, July 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Ferguson currently has an average rating of “Hold” and an average price target of $8,091.30.

Ferguson Company Profile

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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 distributes pipes, valves, fittings, plumbing supplies, water heaters, kitchen and bathroom fixtures, and appliances; heating, ventilation, air conditioning, and refrigeration products and supplies; and plumbing parts and supplies, fire sprinkler systems, hangers, struts, and fasteners.