Findlay Park Partners LLP increased its holdings in shares of Ferguson plc (NYSE:FERG – Free Report) by 24.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 618,810 shares of the company’s stock after acquiring an additional 122,100 shares during the quarter. Ferguson makes up approximately 2.0% of Findlay Park Partners LLP’s portfolio, making the stock its 25th largest position. Findlay Park Partners LLP’s holdings in Ferguson were worth $146,862,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Ferguson by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock worth $4,323,104,000 after acquiring an additional 102,850 shares during the period. Wellington Management Group LLP boosted its holdings in Ferguson by 150.8% in the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after purchasing an additional 5,631,554 shares during the period. Janus Henderson Group PLC grew its position in Ferguson by 2.1% in the 1st quarter. Janus Henderson Group PLC now owns 6,107,108 shares of the company’s stock worth $1,424,075,000 after purchasing an additional 125,317 shares during the last quarter. State Street Corp grew 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 worth $1,005,567,000 after purchasing an additional 79,296 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Ferguson by 0.6% during the 4th 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 during the period. Institutional investors own 81.98% of the company’s stock.
Ferguson Trading Up 1.2%
Shares of FERG stock opened at $242.36 on Friday. The firm has a fifty day moving average of $237.18 and a 200-day moving average of $240.50. The stock has a market cap of $46.88 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 1.68 and a beta of 1.14. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73.
Ferguson declared that its Board of Directors has initiated a share buyback program on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Ferguson Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. Ferguson’s payout ratio is presently 41.83%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Ferguson from $285.00 to $295.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Oppenheimer lifted their target price on Ferguson from $280.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. UBS Group boosted their price target on Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Finally, Royal Bank Of Canada raised their price objective on Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. One 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 company’s stock. According to data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and a consensus target price of $285.93.
Check Out Our Latest Stock Analysis 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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