Ferguson plc $FERG Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. increased its position in Ferguson plc (NYSE:FERG) by 0.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,393,603 shares of the company’s stock after purchasing an additional 25,785 shares during the period. Franklin Resources Inc. owned 2.25% of Ferguson worth $977,959,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FERG. Leonteq Securities AG acquired a new position in Ferguson in the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in Ferguson in the fourth quarter worth about $26,000. Central Pacific Bank Trust Division acquired a new position in Ferguson in the fourth quarter worth about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Ferguson in the third quarter worth about $28,000. Finally, Grove Bank & Trust grew its stake in Ferguson by 154.4% in the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FERG. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Truist Financial lifted their price target on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Jefferies Financial Group reissued a “buy” rating and issued a $300.00 target price on shares of Ferguson in a report on Tuesday, February 24th. Finally, Barclays raised their target price on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $273.64.

Ferguson Stock Performance

Shares of NYSE FERG opened at $229.14 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $241.02 and its two-hundred day moving average price is $241.37. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The stock has a market capitalization of $44.44 billion, a P/E ratio of 26.64, a P/E/G ratio of 1.63 and a beta of 1.15.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The firm had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 EPS. As a group, sell-side analysts forecast that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s payout ratio is 41.40%.

Ferguson announced that its board has authorized a share buyback plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Ferguson Profile

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.