Cullen Frost Bankers Inc. Increases Stock Holdings in Ferguson plc $FERG

Cullen Frost Bankers Inc. increased its holdings in Ferguson plc (NYSE:FERG) by 1,588.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 304 shares of the company’s stock after purchasing an additional 286 shares during the period. Cullen Frost Bankers Inc.’s holdings in Ferguson were worth $66,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Ferguson by 4.4% during the first quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company’s stock valued at $3,071,408,000 after acquiring an additional 806,718 shares during the period. Bank of New York Mellon Corp grew its position in Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company’s stock valued at $1,227,410,000 after acquiring an additional 1,506,024 shares during the period. Invesco Ltd. grew its position in Ferguson by 13.8% during the first quarter. Invesco Ltd. now owns 6,818,800 shares of the company’s stock valued at $1,092,576,000 after acquiring an additional 827,355 shares during the period. Price T Rowe Associates Inc. MD grew its position in Ferguson by 65.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company’s stock valued at $713,740,000 after acquiring an additional 1,755,464 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its position in Ferguson by 101.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company’s stock valued at $667,498,000 after acquiring an additional 2,094,029 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

Shares of FERG opened at $249.40 on Monday. The stock’s 50-day moving average is $232.09. The firm has a market capitalization of $48.88 billion, a PE ratio of 26.70, a PEG ratio of 2.05 and a beta of 1.17. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $251.15. 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 (NYSE:FERG) last issued its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.48. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.44 billion. Ferguson had a return on equity of 35.21% and a net margin of 6.03%.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be paid a $0.83 dividend. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a dividend yield of 1.3%. Ferguson’s payout ratio is 35.55%.

Insiders Place Their Bets

In related news, insider James A. Paisley sold 3,000 shares of the business’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $236.97, for a total value of $710,910.00. Following the transaction, the insider owned 2,211 shares in the company, valued at approximately $523,940.67. The trade was a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ian T. Graham sold 4,864 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $233.22, for a total value of $1,134,382.08. Following the completion of the transaction, the insider owned 7,769 shares in the company, valued at approximately $1,811,886.18. This trade represents a 38.50% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,264 shares of company stock valued at $6,853,349. Insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FERG shares. Barclays boosted their price target on Ferguson from $247.00 to $273.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Truist Financial boosted their price target on Ferguson from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their price target on Ferguson from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 15th. UBS Group boosted their price target on Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, September 17th. Finally, Vertical Research assumed coverage on Ferguson in a research report on Monday, October 20th. They set a “buy” rating and a $291.99 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $240.80.

Ferguson Company Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.