Hsbc Holdings PLC Boosts Stake in Ferguson plc (NASDAQ:FERG)

Hsbc Holdings PLC boosted its stake in shares of Ferguson plc (NASDAQ:FERG) by 32.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 189,932 shares of the company’s stock after purchasing an additional 46,110 shares during the period. Hsbc Holdings PLC owned about 0.09% of Ferguson worth $36,658,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Ferguson by 375.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,289,864 shares of the company’s stock valued at $1,218,032,000 after buying an additional 4,966,821 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Ferguson by 589.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,619,637 shares of the company’s stock worth $353,778,000 after acquiring an additional 1,384,570 shares during the period. Capital World Investors bought a new stake in Ferguson during the 1st quarter worth approximately $104,723,000. APG Asset Management US Inc. bought a new position in shares of Ferguson in the fourth quarter worth approximately $89,758,000. Finally, Robeco Schweiz AG purchased a new stake in shares of Ferguson in the fourth quarter worth $61,782,000. Institutional investors own 81.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday. Wells Fargo & Company dropped their price objective on Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday. Royal Bank of Canada increased their target price on Ferguson from $211.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group boosted their price target on Ferguson from $228.00 to $236.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays increased their price objective on shares of Ferguson from $229.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average target price of $231.57.

Ferguson Trading Down 5.6 %

FERG stock opened at $196.52 on Friday. The firm has a market cap of $39.69 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21. The firm has a fifty day moving average price of $204.88 and a 200 day moving average price of $206.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. Ferguson plc has a fifty-two week low of $147.62 and a fifty-two week high of $225.63.

Ferguson (NASDAQ:FERG) last issued its quarterly earnings data on Tuesday, September 17th. The company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The business had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period last year, the company posted $2.77 EPS. The business’s revenue was up 1.4% on a year-over-year basis. Sell-side analysts anticipate that Ferguson plc will post 9.63 earnings per share for the current fiscal year.

Ferguson declared that its board has authorized a stock buyback plan on Tuesday, June 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.79 per share. The ex-dividend date is Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 1.61%. Ferguson’s dividend payout ratio (DPR) is presently 34.54%.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.