2,236,918 Shares in Ferguson plc $FERG Bought by Norges Bank

Norges Bank acquired a new position in Ferguson plc (NYSE:FERG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,236,918 shares of the company’s stock, valued at approximately $498,005,000.

A number of other large investors have also recently bought and sold shares of the business. Signaturefd LLC boosted its position in Ferguson by 1.1% during the fourth quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after purchasing an additional 44 shares during the period. Simplicity Wealth LLC boosted its position in Ferguson by 1.6% during the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock worth $697,000 after purchasing an additional 48 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Ferguson by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares during the period. Founders Grove Wealth Partners LLC boosted its position in Ferguson by 4.2% during the fourth quarter. Founders Grove Wealth Partners LLC now owns 1,353 shares of the company’s stock worth $301,000 after purchasing an additional 55 shares during the period. Finally, Triad Wealth Partners LLC boosted its position in Ferguson by 4.7% during the fourth quarter. Triad Wealth Partners LLC now owns 1,219 shares of the company’s stock worth $271,000 after purchasing an additional 55 shares during the period. 81.98% of the stock is currently owned by institutional investors.

Ferguson Stock Down 0.0%

FERG opened at $225.88 on Monday. Ferguson plc has a 1-year low of $177.75 and a 1-year high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $43.81 billion, a price-to-earnings ratio of 26.27, a P/E/G ratio of 1.60 and a beta of 1.15. The business has a 50 day moving average of $240.53 and a 200-day moving average of $242.00.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The company had revenue of $7.47 billion during the quarter. During the same period in the prior year, the company posted $2.50 earnings per share. The firm’s revenue was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson announced that its board has authorized a stock buyback plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be paid a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Analyst Ratings Changes

A number of brokerages have issued reports on FERG. Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Ferguson in a research report on Tuesday, February 24th. Royal Bank Of Canada upped their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Oppenheimer upped their price target on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Finally, Truist Financial upped their price target on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and an average target price of $269.73.

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.