Hsbc Holdings PLC reduced its stake in shares of Ferguson plc (NYSE:FERG – Free Report) by 31.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 235,482 shares of the company’s stock after selling 105,688 shares during the quarter. Hsbc Holdings PLC’s holdings in Ferguson were worth $54,890,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Ferguson by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock valued at $4,323,104,000 after acquiring an additional 102,850 shares during the period. Wellington Management Group LLP increased its position in shares of Ferguson by 150.8% during the fourth 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 in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Ferguson by 7.8% in the fourth quarter. Janus Henderson Group PLC now owns 5,981,791 shares of the company’s stock valued at $1,331,621,000 after purchasing an additional 434,650 shares in the last quarter. State Street Corp raised its position in Ferguson by 1.8% in the 4th quarter. State Street Corp now owns 4,516,764 shares of the company’s stock valued at $1,005,567,000 after buying an additional 79,296 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Ferguson by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock worth $977,959,000 after purchasing an additional 25,785 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.
Ferguson Stock Down 1.3%
Shares of Ferguson stock opened at $229.04 on Tuesday. The firm has a market cap of $44.42 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.64 and a beta of 1.13. Ferguson plc has a one year low of $207.64 and a one 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 stock’s 50-day moving average is $230.04 and its 200 day moving average is $240.41.
Ferguson declared that its board has authorized a stock 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 purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Ferguson Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is 41.40%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the company. Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a research note on Friday. Barclays raised their price objective 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. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Wells Fargo & Company increased their price target on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.21.
View Our Latest Report on FERG
About Ferguson
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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