OFI Invest Asset Management Acquires Shares of 2,497 Ferguson plc $FERG
by Sarita Garza · The Markets DailyOFI Invest Asset Management purchased a new stake in Ferguson plc (NYSE:FERG – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,497 shares of the company’s stock, valued at approximately $525,000.
Several other large investors also recently bought and sold shares of FERG. State Street Corp grew its holdings in Ferguson by 1.9% in the 3rd quarter. State Street Corp now owns 4,437,468 shares of the company’s stock valued at $1,000,152,000 after buying an additional 81,094 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Ferguson by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 4,367,818 shares of the company’s stock valued at $980,921,000 after buying an additional 112,157 shares during the period. Wellington Management Group LLP lifted its holdings in Ferguson by 22.4% in the third quarter. Wellington Management Group LLP now owns 3,734,911 shares of the company’s stock valued at $838,786,000 after acquiring an additional 682,666 shares during the last quarter. Soroban Capital Partners LP lifted its holdings in Ferguson by 2.8% in the second quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company’s stock valued at $806,776,000 after acquiring an additional 100,559 shares during the last quarter. Finally, Egerton Capital UK LLP grew its position in Ferguson by 16.4% in the third quarter. Egerton Capital UK LLP now owns 2,600,224 shares of the company’s stock worth $583,958,000 after acquiring an additional 366,898 shares during the period. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
FERG has been the subject of several recent analyst reports. Wells Fargo & Company cut their target price on Ferguson from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday. Truist Financial increased their price target on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Barclays raised their price objective on Ferguson from $278.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Jefferies Financial Group restated a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Ferguson in a research report on Tuesday, January 6th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $267.27.
Check Out Our Latest Report on FERG
Ferguson Stock Performance
Shares of Ferguson stock opened at $257.26 on Friday. The business has a 50-day simple moving average of $243.78 and a 200-day simple moving average of $240.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. Ferguson plc has a one year low of $158.68 and a one year high of $271.64. The company has a market cap of $50.01 billion, a PE ratio of 25.99, a P/E/G ratio of 2.06 and a beta of 1.21.
Ferguson (NYSE:FERG – Get Free Report) 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 return on equity of 40.37% and a net margin of 6.93%.During the same quarter in the previous year, the company posted $1.52 earnings per share. Ferguson’s revenue was up 3.6% compared to the same quarter last year.
Ferguson Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, March 6th. Ferguson’s payout ratio is 35.96%.
About Ferguson
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.