Hsbc Holdings PLC Buys 191,609 Shares of Ferguson plc $FERG

Hsbc Holdings PLC raised its stake in shares of Ferguson plc (NYSE:FERG) by 81.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 427,091 shares of the company’s stock after purchasing an additional 191,609 shares during the quarter. Hsbc Holdings PLC’s holdings in Ferguson were worth $101,419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Leonteq Securities AG acquired a new stake in shares of Ferguson in the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in Ferguson during the fourth quarter valued at approximately $26,000. Zions Bancorporation National Association UT grew its holdings in Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares during the period. Compass Financial Management LLC bought a new stake in Ferguson in the second quarter valued at approximately $32,000. Finally, Johnson Financial Group Inc. acquired a new stake in Ferguson in the third quarter worth $34,000. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Performance

Shares of FERG opened at $228.53 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The firm’s 50 day moving average price is $235.52 and its two-hundred day moving average price is $238.07. The firm has a market cap of $44.21 billion, a P/E ratio of 26.85, a PEG ratio of 1.58 and a beta of 1.13.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The company had revenue of $8.75 billion during the quarter. On average, analysts forecast that Ferguson plc will post 11.42 EPS for the current fiscal year.

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be paid a $0.89 dividend. The ex-dividend date of this dividend is Friday, August 21st. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. Ferguson’s dividend payout ratio is presently 41.83%.

Wall Street Analyst Weigh In

FERG has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 11th. Oppenheimer raised their price objective on Ferguson from $280.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. UBS Group lifted their target price on Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Royal Bank Of Canada boosted their target price on Ferguson from $281.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company increased their price target on Ferguson from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and an average target price of $285.57.

Insiders Place Their Bets

In other Ferguson news, insider Jake Schlicher sold 5,177 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $230.92, for a total transaction of $1,195,472.84. Following the completion of the transaction, the insider owned 9,490 shares in the company, valued at approximately $2,191,430.80. This represents a 35.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.15% of the company’s stock.

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.