Allspring Global Investments Holdings LLC Acquires 5,537 Shares of Ferguson plc $FERG

Allspring Global Investments Holdings LLC raised its holdings in shares of Ferguson plc (NYSE:FERG) by 18.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 35,824 shares of the company’s stock after buying an additional 5,537 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Ferguson were worth $8,564,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Raiffeisen Bank International AG boosted its position in shares of Ferguson by 350,745.0% during the fourth quarter. Raiffeisen Bank International AG now owns 522,759 shares of the company’s stock valued at $116,382,000 after buying an additional 522,610 shares during the period. Marsico Capital Management LLC purchased a new stake in shares of Ferguson in the fourth quarter worth approximately $11,017,000. Lmcg Investments LLC bought a new stake in shares of Ferguson during the 1st quarter worth approximately $1,806,000. V Square Quantitative Management LLC purchased a new position in Ferguson during the 4th quarter valued at $891,000. Finally, D.A. Davidson & CO. boosted its holdings in Ferguson by 89.6% during the 4th quarter. D.A. Davidson & CO. now owns 30,983 shares of the company’s stock valued at $6,898,000 after acquiring an additional 14,644 shares during the period. Institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FERG. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. 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 report on Wednesday, May 6th. The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $315.00 to $265.00 in a research note on Monday, July 6th. Finally, Barclays lifted their price objective on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $277.21.

Ferguson Trading Up 1.5%

Shares of NYSE:FERG opened at $229.96 on Thursday. The company has a market capitalization of $44.60 billion, a PE ratio of 26.74, a P/E/G ratio of 1.60 and a beta of 1.13. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The business’s fifty day simple moving average is $229.73 and its 200-day simple moving average is $240.49.

Ferguson (NYSE:FERG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm had revenue of $7.47 billion during the quarter. During the same quarter last year, the company earned $2.50 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts predict that Ferguson plc will post 11.27 earnings per share for the current fiscal year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were given a $0.89 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s payout ratio is presently 41.40%.

Ferguson declared that its board has initiated a stock buyback program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Ferguson 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.