Ferguson plc $FERG Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. lessened its position in Ferguson plc (NYSE:FERG) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,724,193 shares of the company’s stock after selling 24,222 shares during the period. T. Rowe Price Investment Management Inc.’s holdings in Ferguson were worth $606,488,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Ferguson by 150.8% in the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after purchasing an additional 5,631,554 shares during the last quarter. Norges Bank acquired a new stake in Ferguson during the 4th quarter valued at $498,005,000. Durable Capital Partners LP purchased a new stake in shares of Ferguson during the third quarter worth about $244,561,000. Qube Research & Technologies Ltd increased its holdings in Ferguson by 588.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock worth $244,236,000 after purchasing an additional 929,475 shares during the last quarter. Finally, 59 North Capital Management LP raised its holdings in Ferguson by 114.7% in the third quarter. 59 North Capital Management LP now owns 1,255,137 shares of the company’s stock valued at $281,879,000 after acquiring an additional 670,473 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Wells Fargo & Company raised their target price on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. UBS Group boosted their price target on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Truist Financial boosted their price objective on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Oppenheimer increased 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and a consensus price target of $277.58.

Ferguson Stock Up 4.1%

Shares of FERG stock opened at $239.04 on Friday. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a market capitalization of $46.36 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The stock’s 50 day simple moving average is $240.87 and its 200 day simple moving average is $240.61.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping 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 business had revenue of $7.47 billion during the quarter. During the same period in the prior year, the firm posted $2.50 EPS. Ferguson’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, research analysts predict that Ferguson plc will post 11.26 EPS for the current year.

Ferguson announced that its board has authorized a stock repurchase 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 generally a sign that the company’s management believes its stock is undervalued.

Ferguson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s payout ratio is presently 41.40%.

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.