Truist Financial Corp Raises Holdings in Ferguson plc $FERG

Truist Financial Corp boosted its holdings in shares of Ferguson plc (NASDAQ:FERG) by 42.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 299,188 shares of the company’s stock after acquiring an additional 89,109 shares during the quarter. Truist Financial Corp’s holdings in Ferguson were worth $65,148,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. US Bancorp DE grew its holdings in shares of Ferguson by 0.8% during the first quarter. US Bancorp DE now owns 7,394 shares of the company’s stock valued at $1,185,000 after buying an additional 59 shares during the last quarter. Compound Planning Inc. grew its holdings in shares of Ferguson by 4.6% during the first quarter. Compound Planning Inc. now owns 1,386 shares of the company’s stock valued at $222,000 after buying an additional 61 shares during the last quarter. Mission Wealth Management LP grew its holdings in shares of Ferguson by 2.2% during the first quarter. Mission Wealth Management LP now owns 3,050 shares of the company’s stock valued at $489,000 after buying an additional 67 shares during the last quarter. James Hambro & Partners LLP grew its holdings in shares of Ferguson by 1.1% during the first quarter. James Hambro & Partners LLP now owns 6,311 shares of the company’s stock valued at $1,011,000 after buying an additional 70 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of Ferguson by 56.5% during the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on FERG. Oppenheimer boosted their price objective on shares of Ferguson from $235.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Royal Bank Of Canada boosted their price objective on shares of Ferguson from $231.00 to $243.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Barclays boosted their price objective on shares of Ferguson from $247.00 to $273.00 and gave the company an “overweight” rating in a report on Thursday, September 18th. Robert W. Baird boosted their target price on shares of Ferguson from $260.00 to $262.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Finally, UBS Group boosted their target price on shares of Ferguson from $204.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, September 17th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus price target of $235.71.

Ferguson Trading Up 0.5%

NASDAQ FERG opened at $225.67 on Thursday. The company has a market capitalization of $44.27 billion, a PE ratio of 27.09, a P/E/G ratio of 1.69 and a beta of 1.15. The company has a fifty day moving average of $227.93 and a 200 day moving average of $201.68. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $243.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be given a $0.83 dividend. The ex-dividend date is Friday, September 26th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is 35.55%.

Ferguson Company Profile

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.