Inspire Trust Co. N.A. grew its position in Ferguson plc (NYSE:FERG – Free Report) by 16.0% during the 4th quarter, Holdings Channel reports. The firm owned 29,000 shares of the company’s stock after purchasing an additional 4,000 shares during the quarter. Ferguson makes up about 1.1% of Inspire Trust Co. N.A.’s investment portfolio, making the stock its 28th biggest position. Inspire Trust Co. N.A.’s holdings in Ferguson were worth $6,456,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in FERG. Leonteq Securities AG acquired a new stake in shares of Ferguson in the 4th quarter valued at $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Ferguson in the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Ferguson in the 3rd quarter valued at $28,000. Cornerstone Planning Group LLC boosted its stake in shares of Ferguson by 178.3% in the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock valued at $31,000 after purchasing an additional 82 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Ferguson by 154.4% in the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.
Ferguson Stock Down 1.4%
Shares of NYSE FERG opened at $226.58 on Friday. The company has a market cap of $43.94 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 1.63 and a beta of 1.23. Ferguson plc has a 12-month low of $177.75 and a 12-month high of $271.64. The company has a quick ratio of 1.01, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The firm’s 50-day simple moving average is $240.44 and its 200 day simple moving average is $242.18.
Ferguson declared that its board has initiated a share repurchase plan on Tuesday, May 5th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 3.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
Ferguson Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.6%. Ferguson’s dividend payout ratio is presently 41.40%.
Wall Street Analysts Forecast Growth
FERG has been the topic of several recent analyst reports. Oppenheimer boosted their target price on shares of Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Barclays upped their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Royal Bank Of Canada upped their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company upped their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.73.
Get Our Latest Report on Ferguson
Ferguson News Summary
Here are the key news stories impacting Ferguson this week:
- Neutral Sentiment: Recent headlines centered on Sarah Ferguson’s reported ties to a scrapped NBC talk show deal, alleged personal scandals, and biographical claims about Princess Diana; these stories are unrelated to Ferguson plc’s fundamentals and are unlikely to materially affect the stock. Sarah Ferguson’s Actions Scrapped Major NBC Talk Show Deal — Source
- Neutral Sentiment: Additional coverage about Sarah Ferguson’s “chaotic” royal household and a rumored relationship with Sean “Diddy” Combs is celebrity/royal gossip, not company-specific news for Ferguson plc. How Sarah Ferguson’s ‘chaotic’ parenting squandered her talk show dreams with NBC
- Neutral Sentiment: Other articles reference Sarah Ferguson’s relationship with Prince Andrew and past disputes with Princess Diana, which do not provide any direct operational or financial catalyst for Ferguson plc shares. Sarah Ferguson doesn’t want to leave ex-husband former Prince Andrew ‘high and dry’ after scandals, claims expert
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.
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