Ferguson plc $FERG Shares Purchased by Franklin Resources Inc.

Key Points

• Franklin Resources increased its stake in Ferguson by 2.6% to 4,367,818 shares, representing about 2.23% ownership and roughly $980.9 million in value.
• Ferguson missed quarterly EPS estimates, reporting $1.99 per share (vs. $2.24 expected) while revenue rose 3.6% year-over-year.
• The company announced a quarterly dividend of $0.89 (annualized $3.56, yield 1.6%), and institutional investors own about 81.98% of the stock.

Franklin Resources Inc. increased its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 2.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,367,818 shares of the company's stock after buying an additional 112,157 shares during the quarter. Franklin Resources Inc. owned about 2.23% of Ferguson worth $980,921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Vanguard Group Inc. grew its holdings in Ferguson by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 19,341,871 shares of the company's stock valued at $4,211,692,000 after buying an additional 173,128 shares in the last quarter. Soroban Capital Partners LP raised its holdings in shares of Ferguson by 2.8% during the 2nd quarter. Soroban Capital Partners LP now owns 3,705,056 shares of the company's stock worth $806,776,000 after acquiring an additional 100,559 shares during the period. Egerton Capital UK LLP boosted its position in shares of Ferguson by 16.4% during the 3rd quarter. Egerton Capital UK LLP now owns 2,600,224 shares of the company's stock valued at $583,958,000 after acquiring an additional 366,898 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Ferguson by 0.4% during the 2nd quarter. Brown Advisory Inc. now owns 2,442,107 shares of the company's stock valued at $531,769,000 after acquiring an additional 10,615 shares during the last quarter. Finally, Barclays PLC grew its holdings in shares of Ferguson by 14.9% in the third quarter. Barclays PLC now owns 2,262,619 shares of the company's stock valued at $508,139,000 after purchasing an additional 292,723 shares during the period. Institutional investors and hedge funds own 81.98% of the company's stock.

Ferguson Trading Down 1.1%

NYSE FERG opened at $227.98 on Wednesday. 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 stock has a market capitalization of $44.34 billion, a P/E ratio of 23.03, a PEG ratio of 1.85 and a beta of 1.17. The firm's 50-day moving average is $248.78 and its two-hundred day moving average is $240.66. Ferguson plc has a 12 month low of $146.00 and a 12 month high of $271.64.

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

Ferguson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Friday, March 6th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, March 6th. Ferguson's dividend payout ratio (DPR) is 35.96%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FERG shares. Robert W. Baird raised their price objective on shares of Ferguson from $262.00 to $265.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 10th. Wall Street Zen lowered shares of Ferguson from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. UBS Group increased their price target on shares of Ferguson from $220.00 to $252.00 and gave the company a "neutral" rating in a research note on Wednesday, February 25th. Morgan Stanley restated an "overweight" rating on shares of Ferguson in a report on Tuesday, January 6th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Ferguson in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.62.

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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