Ferguson plc (NYSE:FERG – Get Free Report) saw a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 4,996,064 shares, an increase of 78.9% from the July 30th total of 2,792,984 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average daily trading volume, of 7,452,362 shares, the days-to-cover ratio is presently 0.7 days.
Institutional Trading of Ferguson
A number of large investors have recently made changes to their positions in FERG. Leonteq Securities AG purchased a new stake in shares of Ferguson in the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new stake in shares of Ferguson during the 4th quarter worth $26,000. Compass Financial Management LLC purchased a new stake in shares of Ferguson during the 2nd quarter worth $32,000. Zions Bancorporation National Association UT grew its stake in shares of Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after purchasing an additional 79 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in shares of Ferguson during the third quarter worth $34,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
Ferguson Stock Down 2.0%
Ferguson stock traded down $4.38 during mid-day trading on Tuesday, reaching $220.13. 450,497 shares of the company’s stock were exchanged, compared to its average volume of 1,732,160. The company has a market cap of $42.58 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.59 and a beta of 1.14. Ferguson has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average of $236.68 and a 200-day moving average of $239.20.
Ferguson Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Friday, August 21st. Ferguson’s payout ratio is presently 41.83%.
Ferguson announced that its board has initiated a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $261.00 target price on shares of Ferguson in a report on Tuesday, August 18th. Royal Bank Of Canada boosted their target price on Ferguson from $281.00 to $290.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Finally, Barclays upped their price target on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $285.93.
View Our Latest Stock Analysis 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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