Munich Reinsurance Co Stock Corp in Munich lifted its stake in shares of Ferguson plc (NYSE:FERG – Free Report) by 0.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 318,599 shares of the company’s stock after purchasing an additional 2,369 shares during the period. Ferguson makes up about 1.8% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 18th biggest position. Munich Reinsurance Co Stock Corp in Munich owned 0.16% of Ferguson worth $74,216,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of FERG. Leonteq Securities AG acquired a new stake in Ferguson during the 4th quarter worth about $26,000. Basepoint Wealth LLC acquired a new stake in shares of Ferguson during the fourth quarter valued at approximately $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Ferguson during the fourth quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Ferguson in the 3rd quarter valued at approximately $28,000. Finally, Grove Bank & Trust lifted its position 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 acquiring an additional 88 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.
Ferguson Stock Down 0.7%
Ferguson stock opened at $221.64 on Thursday. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. 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 firm has a market cap of $42.98 billion, a PE ratio of 25.77, a P/E/G ratio of 1.58 and a beta of 1.13. The firm’s 50 day moving average price is $233.52 and its two-hundred day moving average price is $240.29.
Ferguson declared that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
Ferguson Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Friday, May 15th were given a dividend of $0.89 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the stock. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Wells Fargo & Company raised their target price on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada raised their target price on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, Barclays upped their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research 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 six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $276.61.
Get Our Latest Analysis on Ferguson
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.
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