Baader Bank Aktiengesellschaft Acquires 15,935 Shares of Ferguson plc $FERG

Key Points

• Baader Bank Aktiengesellschaft increased its stake in Ferguson plc by 37%, adding 15,935 shares to its holdings, which now total approximately 59,000 shares valued at about $12.85 million.
• Ferguson recently declared a quarterly dividend of $0.83 per share, representing an annual yield of 1.5% based on a payout ratio of 41.40%.
• Wall Street analysts have raised their price targets for Ferguson, with projections ranging from $225 to $275, reflecting a consensus rating of "Moderate Buy."

Baader Bank Aktiengesellschaft raised its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 37.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,000 shares of the company's stock after buying an additional 15,935 shares during the period. Ferguson comprises 0.9% of Baader Bank Aktiengesellschaft's portfolio, making the stock its 15th largest holding. Baader Bank Aktiengesellschaft's holdings in Ferguson were worth $12,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Ferguson by 4.4% during the first quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock valued at $3,071,408,000 after buying an additional 806,718 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Ferguson by 24.5% during the first quarter. Bank of New York Mellon Corp now owns 7,660,299 shares of the company's stock valued at $1,227,410,000 after buying an additional 1,506,024 shares during the last quarter. Invesco Ltd. increased its holdings in Ferguson by 13.8% during the first quarter. Invesco Ltd. now owns 6,818,800 shares of the company's stock valued at $1,092,576,000 after buying an additional 827,355 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Ferguson by 65.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,454,467 shares of the company's stock valued at $713,740,000 after buying an additional 1,755,464 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Ferguson by 101.1% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,165,873 shares of the company's stock valued at $667,498,000 after buying an additional 2,094,029 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Price Performance

Shares of NASDAQ:FERG traded up $3.64 during midday trading on Monday, reaching $233.05. 2,277,412 shares of the company were exchanged, compared to its average volume of 1,773,648. The company has a current ratio of 1.68, a quick ratio of 0.91 and a debt-to-equity ratio of 0.83. The business's fifty day moving average is $227.16 and its two-hundred day moving average is $198.98. Ferguson plc has a one year low of $146.00 and a one year high of $243.40. The stock has a market cap of $45.95 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, September 26th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, September 26th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson's dividend payout ratio (DPR) is 35.55%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of Ferguson in a report on Wednesday, June 18th. They set a "buy" rating and a $280.00 target price for the company. Wells Fargo & Company upped their target price on shares of Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Wednesday, September 17th. Oppenheimer upped their price target on shares of Ferguson from $235.00 to $255.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Robert W. Baird upped their price target on shares of Ferguson from $260.00 to $262.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. upped their price target on shares of Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $235.71.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.