Hsbc Holdings PLC Has $76.04 Million Stock Holdings in Ferguson plc $FERG

Hsbc Holdings PLC decreased its holdings in Ferguson plc (NYSE:FERG) by 41.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 341,170 shares of the company’s stock after selling 240,434 shares during the period. Hsbc Holdings PLC owned approximately 0.18% of Ferguson worth $76,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Leonteq Securities AG acquired a new stake in Ferguson in the fourth quarter valued at about $26,000. Basepoint Wealth LLC bought a new position in shares of Ferguson in the fourth quarter worth about $26,000. Central Pacific Bank Trust Division bought a new position in shares of Ferguson in the fourth quarter worth about $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Ferguson in the 3rd quarter valued at approximately $28,000. Finally, Grove Bank & Trust boosted its stake in shares of Ferguson by 154.4% in the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after purchasing an additional 88 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and issued a $300.00 target price on shares of Ferguson in a research report on Tuesday, February 24th. Wells Fargo & Company boosted their target price on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada upped their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Finally, Truist Financial increased their price target on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $277.58.

Ferguson Stock Performance

Ferguson stock opened at $237.31 on Tuesday. The business has a 50 day moving average of $240.33 and a 200-day moving average of $240.43. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The company has a market capitalization of $46.02 billion, a P/E ratio of 27.59, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business had revenue of $7.47 billion during the quarter. During the same quarter last year, the business earned $2.50 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Announces Dividend

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 paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Ferguson announced that its board has authorized a share buyback plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

Ferguson Company 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.