Allspring Global Investments Holdings LLC Purchases 29,180 Shares of Ferguson plc $FERG

Key Points

• Allspring Global Investments Holdings LLC boosted its stake in Ferguson by 2,636%, buying 29,180 shares to own 30,287 shares worth about $6.82 million at quarter-end.
• Analysts carry a consensus rating of "Moderate Buy" with a target of $268.93, and recent notable notes include Jefferies reiterating a buy with a $300 target and price-target raises from RBC ($271) and Barclays ($295).
• Ferguson missed quarterly EPS expectations ($1.99 vs. $2.24) despite 3.6% revenue growth, and announced a quarterly dividend of $0.89 ($3.56 annually, ~1.5% yield; ex-dividend Mar 6, payable Apr 30).

Allspring Global Investments Holdings LLC grew its position in shares of Ferguson plc (NYSE:FERG - Free Report) by 2,636.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,287 shares of the company's stock after buying an additional 29,180 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Ferguson were worth $6,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company's stock valued at $2,445,000 after acquiring an additional 2,940 shares during the period. Caxton Associates LLP purchased a new position in Ferguson in the first quarter worth about $310,000. Focus Partners Wealth lifted its stake in Ferguson by 22.7% in the first quarter. Focus Partners Wealth now owns 3,140 shares of the company's stock worth $503,000 after purchasing an additional 581 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Ferguson in the second quarter worth about $257,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Ferguson by 7.5% in 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 last quarter. 81.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on FERG shares. Jefferies Financial Group reiterated a "buy" rating and issued a $300.00 price target on shares of Ferguson in a report on Tuesday, February 24th. Wall Street Zen lowered shares of Ferguson from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Royal Bank Of Canada boosted their price objective on shares of Ferguson from $247.00 to $271.00 and gave the company an "outperform" rating in a report on Tuesday, February 24th. Barclays boosted their price objective on shares of Ferguson from $278.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, February 25th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Ferguson in a report on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $268.93.

Ferguson Stock Up 1.7%

Shares of NYSE FERG opened at $239.12 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The company has a market capitalization of $46.48 billion, a P/E ratio of 24.15, a P/E/G ratio of 1.92 and a beta of 1.21. The company has a 50 day simple moving average of $244.09 and a 200-day simple moving average of $240.31. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $271.64.

Ferguson (NYSE:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.24 by ($0.25). Ferguson had a net margin of 6.93% and a return on equity of 40.37%. During the same quarter in the previous year, the firm posted $1.52 earnings per share. The business's revenue for the quarter was up 3.6% compared to the same quarter last year.

Ferguson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be paid a $0.89 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson's payout ratio is currently 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.

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