Hsbc Holdings PLC Has $101.42 Million Stock Position in Ferguson plc $FERG

Hsbc Holdings PLC raised its stake in shares of Ferguson plc (NYSE:FERGFree Report) by 81.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,091 shares of the company’s stock after acquiring an additional 191,609 shares during the period. Hsbc Holdings PLC’s holdings in Ferguson were worth $101,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ferguson by 23.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after acquiring an additional 2,940 shares during the period. Caxton Associates LLP bought a new stake in Ferguson during the first quarter worth about $310,000. Focus Partners Wealth increased its stake in Ferguson by 22.7% in the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after purchasing an additional 581 shares during the period. Sivia Capital Partners LLC purchased a new stake in Ferguson in the 2nd quarter worth approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective on the stock in a research report on Friday, July 17th. Robert W. Baird boosted their price target on shares of Ferguson from $285.00 to $288.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $261.00 target price on shares of Ferguson in a research report on Tuesday, August 18th. Finally, Oppenheimer upped their price target on shares of Ferguson from $280.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.93.

Check Out Our Latest Stock Analysis on Ferguson

Ferguson Stock Performance

Shares of Ferguson stock opened at $235.84 on Thursday. The firm’s 50 day moving average is $237.26 and its two-hundred day moving average is $239.91. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The firm has a market capitalization of $45.62 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.61 and a beta of 1.14.

Ferguson (NYSE:FERGGet Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The company had revenue of $8.75 billion for the quarter. Research analysts forecast that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Friday, August 21st will be paid a $0.89 dividend. 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 dividend payout ratio (DPR) is presently 41.83%.

Ferguson declared that its Board of Directors has approved a share buyback program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Ferguson Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Ferguson (NYSE:FERG)

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