Hsbc Holdings PLC Has $76.04 Million Stock Holdings in Ferguson plc $FERG

Hsbc Holdings PLC trimmed its stake in shares of Ferguson plc (NYSE:FERG) by 41.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 341,170 shares of the company’s stock after selling 240,434 shares during the quarter. Hsbc Holdings PLC’s holdings in Ferguson were worth $76,044,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rehmann Capital Advisory Group boosted its holdings in Ferguson by 8.1% in the fourth quarter. Rehmann Capital Advisory Group now owns 1,395 shares of the company’s stock valued at $311,000 after acquiring an additional 104 shares during the last quarter. Alpine Global Management LLC lifted its position in shares of Ferguson by 177.5% in the 4th quarter. Alpine Global Management LLC now owns 6,318 shares of the company’s stock worth $1,407,000 after purchasing an additional 4,041 shares during the period. GFI Investment Counsel Ltd. lifted its position in shares of Ferguson by 1.5% in the 4th quarter. GFI Investment Counsel Ltd. now owns 287,873 shares of the company’s stock worth $64,089,000 after purchasing an additional 4,363 shares during the period. WealthPoint Financial LLC bought a new stake in shares of Ferguson in the 4th quarter valued at $217,000. Finally, Compound Planning Inc. boosted its stake in shares of Ferguson by 13.1% in the 4th quarter. Compound Planning Inc. now owns 2,919 shares of the company’s stock valued at $650,000 after purchasing an additional 338 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. UBS Group upped their price target on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research report on Wednesday, February 25th. Barclays increased their price target on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Weiss Ratings lowered Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Truist Financial upped their target price on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.58.

Ferguson Stock Performance

NYSE:FERG opened at $237.31 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a fifty day moving average of $240.33 and a 200-day moving average of $240.43. The firm has a market capitalization of $46.02 billion, a P/E ratio of 27.59, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.14. The business had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 earnings per share. As a group, sell-side analysts anticipate that Ferguson plc will post 11.26 EPS for the current year.

Ferguson announced that its Board of Directors has approved a stock buyback plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. The ex-dividend date is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is currently 41.40%.

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.