Northwestern Mutual Wealth Management Co. boosted its position in Ferguson plc (NYSE:FERG – Free Report) by 22,770.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 104,976 shares of the company’s stock after buying an additional 104,517 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Ferguson were worth $23,371,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC grew its stake in Ferguson by 1.1% in the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock valued at $886,000 after buying an additional 44 shares during the last quarter. Simplicity Wealth LLC grew its stake in Ferguson by 1.6% in the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after buying an additional 48 shares during the last quarter. Founders Grove Wealth Partners LLC grew its stake in Ferguson by 4.2% in the 4th quarter. Founders Grove Wealth Partners LLC now owns 1,353 shares of the company’s stock valued at $301,000 after buying an additional 55 shares during the last quarter. Triad Wealth Partners LLC grew its stake in Ferguson by 4.7% in the 4th quarter. Triad Wealth Partners LLC now owns 1,219 shares of the company’s stock valued at $271,000 after buying an additional 55 shares during the last quarter. Finally, First Bank & Trust grew its stake in Ferguson by 6.2% in the 4th quarter. First Bank & Trust now owns 958 shares of the company’s stock valued at $213,000 after buying an additional 56 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.
Ferguson Price Performance
Shares of Ferguson stock opened at $220.85 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The firm’s 50-day simple moving average is $240.48 and its 200-day simple moving average is $243.27. Ferguson plc has a twelve month low of $176.26 and a twelve month high of $271.64. The firm has a market cap of $42.83 billion, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 1.56 and a beta of 1.23.
Ferguson announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
Ferguson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s payout ratio is 41.40%.
Analysts Set New Price Targets
FERG has been the topic of a number of research analyst reports. Oppenheimer raised their target price on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Truist Financial raised their price target on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Wells Fargo & Company raised their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Barclays raised their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.73.
Read Our Latest Stock Report on FERG
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.
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