QRG Capital Management Inc. increased its position in shares of Ferguson plc (NYSE:FERG – Free Report) by 61.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,650 shares of the company’s stock after buying an additional 10,936 shares during the period. QRG Capital Management Inc.’s holdings in Ferguson were worth $6,683,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP lifted its position in Ferguson by 150.8% during the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock worth $2,085,256,000 after acquiring an additional 5,631,554 shares during the last quarter. Norges Bank bought a new position in shares of Ferguson in the fourth quarter worth about $498,005,000. Durable Capital Partners LP acquired a new position in shares of Ferguson during the 3rd quarter worth about $244,561,000. Qube Research & Technologies Ltd lifted its position in shares of Ferguson by 588.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock worth $244,236,000 after purchasing an additional 929,475 shares during the last quarter. Finally, 59 North Capital Management LP boosted its stake in Ferguson by 114.7% during the 3rd quarter. 59 North Capital Management LP now owns 1,255,137 shares of the company’s stock valued at $281,879,000 after purchasing an additional 670,473 shares during the period. 81.98% of the stock is currently owned by institutional investors and hedge funds.
Ferguson Trading Down 0.0%
Shares of FERG opened at $230.22 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The company has a market cap of $44.65 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.63 and a beta of 1.13. The stock has a fifty day moving average price of $235.86 and a two-hundred day moving average price of $240.31. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64.
Ferguson declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
Ferguson Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is 41.40%.
Analysts Set New Price Targets
A number of analysts have issued reports on FERG shares. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Royal Bank Of Canada increased their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. 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 report on Wednesday, May 6th. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Finally, Barclays increased their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Ferguson has an average rating of “Moderate Buy” and a consensus price target of $277.58.
Check Out Our Latest Stock Report on Ferguson
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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