Ferguson plc $FERG Stake Raised by Franklin Resources Inc.

Franklin Resources Inc. grew its holdings in shares of Ferguson plc (NYSE:FERG) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,393,603 shares of the company’s stock after buying an additional 25,785 shares during the period. Franklin Resources Inc.’s holdings in Ferguson were worth $977,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Atria Investments Inc increased its holdings in shares of Ferguson by 38.2% in the third quarter. Atria Investments Inc now owns 15,401 shares of the company’s stock valued at $3,459,000 after buying an additional 4,259 shares in the last quarter. Kinetic Partners Management LP increased its holdings in shares of Ferguson by 53.4% in the third quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock valued at $78,378,000 after buying an additional 121,500 shares in the last quarter. Cibc World Market Inc. increased its holdings in shares of Ferguson by 79.6% in the third quarter. Cibc World Market Inc. now owns 12,328 shares of the company’s stock valued at $2,769,000 after buying an additional 5,463 shares in the last quarter. Clifford Swan Investment Counsel LLC increased its holdings in shares of Ferguson by 3.0% in the third quarter. Clifford Swan Investment Counsel LLC now owns 74,900 shares of the company’s stock valued at $16,821,000 after buying an additional 2,208 shares in the last quarter. Finally, Fieldview Capital Management LLC bought a new position in shares of Ferguson in the third quarter valued at $3,258,000. Institutional investors own 81.98% of the company’s stock.

Ferguson Trading Down 0.2%

NYSE FERG opened at $229.14 on Monday. 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 stock has a market cap of $44.44 billion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.63 and a beta of 1.15. The firm’s 50 day moving average price is $241.02 and its two-hundred day moving average price is $241.37.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm had revenue of $7.47 billion for the quarter. During the same quarter in the previous year, the firm posted $2.50 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts anticipate that Ferguson plc will post 11.26 EPS for the current year.

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 repurchase up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s payout ratio is presently 41.40%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FERG shares. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Royal Bank Of Canada upped their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings cut Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Truist Financial upped their price target on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Oppenheimer upped their price target on Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $273.64.

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.