Ferguson plc $FERG Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp boosted its stake in Ferguson by 23.4% in Q4 to 129,213 shares, representing about 0.07% of the company and valued at roughly $28.77 million.
• Analysts have a consensus rating of Moderate Buy with an average price target of $267.27, with notable moves including Truist raising its target to $300 and Wells Fargo cutting its target to $260.
• Ferguson reported quarterly EPS of $1.99 versus $2.24 expected (a miss) while revenue rose 3.6% year-over-year, and the company declared a quarterly dividend of $0.89 (annual $3.56, yield ~1.4%).

Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Ferguson plc (NYSE:FERG - Free Report) by 23.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,213 shares of the company's stock after purchasing an additional 24,528 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Ferguson worth $28,767,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Daymark Wealth Partners LLC raised its holdings in shares of Ferguson by 4.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 992 shares of the company's stock valued at $223,000 after buying an additional 44 shares during the period. Signaturefd LLC increased its holdings in Ferguson by 1.1% during the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company's stock worth $886,000 after purchasing an additional 44 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Ferguson by 7.5% during the 2nd 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. MassMutual Private Wealth & Trust FSB increased its holdings in Ferguson by 21.7% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company's stock worth $66,000 after purchasing an additional 52 shares during the last quarter. Finally, Founders Grove Wealth Partners LLC increased its holdings in Ferguson by 4.2% during the 4th quarter. Founders Grove Wealth Partners LLC now owns 1,353 shares of the company's stock worth $301,000 after purchasing an additional 55 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Ferguson from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Wednesday, April 8th. Weiss Ratings upgraded Ferguson from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, April 20th. Morgan Stanley restated an "overweight" rating on shares of Ferguson in a report on Tuesday, January 6th. Truist Financial lifted their target price on Ferguson from $260.00 to $300.00 and gave the stock a "buy" rating in a research report on Wednesday, February 25th. Finally, Sanford C. Bernstein reiterated 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 four have issued a Hold rating to the stock. Based on data from MarketBeat, Ferguson presently has an average rating of "Moderate Buy" and an average price target of $267.27.

Ferguson Trading Down 0.8%

Shares of FERG stock opened at $256.07 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. Ferguson plc has a 1 year low of $165.10 and a 1 year high of $271.64. The stock has a fifty day moving average of $243.72 and a two-hundred day moving average of $243.56. The firm has a market capitalization of $49.78 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 2.15 and a beta of 1.21.

Ferguson (NYSE:FERG - Get Free Report) last released its 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 return on equity of 40.37% and a net margin of 6.93%.The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. As a group, research analysts expect that Ferguson plc will post 11.14 EPS for the current year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Friday, March 6th will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. Ferguson's payout ratio is 35.96%.

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.

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