Short Interest in Ferguson plc (NYSE:FERG) Drops By 34.2%

Ferguson plc (NYSE:FERG) was the target of a large decrease in short interest in February. As of February 27th, there was short interest totaling 1,792,417 shares, a decrease of 34.2% from the February 12th total of 2,725,062 shares. Based on an average daily volume of 1,622,371 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.9% of the company’s shares are sold short. Currently, 0.9% of the company’s shares are sold short. Based on an average daily volume of 1,622,371 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. Barclays increased their price target on shares of Ferguson from $278.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Ferguson in a report on Thursday, January 22nd. Truist Financial lifted their price objective on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Wall Street Zen lowered Ferguson from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $268.93.

Key Ferguson News

Here are the key news stories impacting Ferguson this week:

• Neutral Sentiment: Rebecca Ferguson (actor) confirms return window for Apple TV+ series “Silo” — entertainment press about the actress, not the company. Collider: Rebecca Ferguson on Silo
• Neutral Sentiment: Multiple outlets report Rebecca Ferguson discussing “Silo” Season 3 and Dune: Part 3 details — actor/entertainment coverage, unrelated to Ferguson plc. AOL: Silo Season 3
• Neutral Sentiment: Rebecca Ferguson appears on late-night TV (Seth Meyers) — celebrity appearance, no corporate link. MSN: Seth Meyers & Rebecca Ferguson
• Neutral Sentiment: Celebrity coverage of Sarah Ferguson (Duchess of York) — various human-interest and controversy stories (public apologies, social ties, living arrangements). These are reputational/celebrity items with no corporate relevance. Yahoo: Sarah Ferguson and Epstein
• Neutral Sentiment: Stories comparing Meghan Markle to Sarah Ferguson and articles about Priscilla Presley and Sarah Ferguson — entertainment/viral coverage, not company news. MSN: Meghan Markle comparison
• Neutral Sentiment: Reports on Sarah Ferguson’s personal comments about other celebrities and alleged tensions with the royal family — tabloid/celebrity reporting, no corporate implications. MSN: Sarah Ferguson on Lisa Marie Presley
• Neutral Sentiment: Sports feature on Brighton’s Evan Ferguson (soccer) — player/club coverage, not related to Ferguson plc’s business. NYT: Evan Ferguson feature

Institutional Trading of Ferguson

Several hedge funds and other institutional investors have recently made changes to their positions in FERG. Wellington Management Group LLP boosted its holdings in Ferguson by 150.8% in the fourth quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock worth $2,085,256,000 after acquiring an additional 5,631,554 shares in the last quarter. Norges Bank bought a new position in shares of Ferguson during the fourth quarter valued at $498,005,000. Franklin Resources Inc. raised its position in shares of Ferguson by 39.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,255,661 shares of the company’s stock worth $926,830,000 after purchasing an additional 1,201,493 shares during the last quarter. Durable Capital Partners LP bought a new position in Ferguson in the 3rd quarter worth about $244,561,000. Finally, Qube Research & Technologies Ltd boosted its stake in Ferguson by 588.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock worth $244,236,000 after purchasing an additional 929,475 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Stock Up 1.1%

Shares of NYSE:FERG traded up $2.34 during midday trading on Friday, reaching $222.07. The company’s stock had a trading volume of 1,092,690 shares, compared to its average volume of 1,455,257. The company has a quick ratio of 1.01, a current ratio of 1.88 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $248.85 and a 200-day moving average of $240.38. The firm has a market capitalization of $43.19 billion, a P/E ratio of 21.25, a PEG ratio of 1.77 and a beta of 1.17. Ferguson has a 12-month low of $146.00 and a 12-month high of $271.64.

Ferguson (NYSE:FERG) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 EPS.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, March 6th. Ferguson’s dividend payout ratio (DPR) is presently 35.96%.

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.