Ferguson plc $FERG Stock Holdings Boosted by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its shareholding in Ferguson plc by 3.3% during the second quarter, bringing its total holdings to 71,744 shares valued at approximately $15.7 million.
• Wall Street analysts are optimistic about Ferguson, with several firms raising their target prices; Wells Fargo increased theirs from $250 to $275, indicating a positive outlook on the stock.
• Ferguson recently announced a quarterly dividend of $0.83 per share, representing an annualized yield of 1.4%, with an upcoming payout date on November 7th.

KLP Kapitalforvaltning AS lifted its position in shares of Ferguson plc (NYSE:FERG - Free Report) by 3.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 71,744 shares of the company's stock after acquiring an additional 2,300 shares during the period. KLP Kapitalforvaltning AS's holdings in Ferguson were worth $15,673,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of FERG. Vanguard Group Inc. lifted its holdings in Ferguson by 4.4% in the first quarter. Vanguard Group Inc. now owns 19,168,743 shares of the company's stock worth $3,071,408,000 after purchasing an additional 806,718 shares during the period. Bank of New York Mellon Corp increased its stake in Ferguson by 24.5% during the 1st 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 period. Invesco Ltd. increased its stake in Ferguson by 13.8% during the 1st 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 period. Price T Rowe Associates Inc. MD increased its stake in Ferguson by 65.0% during the 1st 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 period. Finally, T. Rowe Price Investment Management Inc. increased its stake in Ferguson by 101.1% during the 1st 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 period. Institutional investors own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on FERG. Wells Fargo & Company raised their target price on shares of Ferguson from $250.00 to $275.00 and gave the company an "overweight" rating in a research note on Wednesday, September 17th. Wall Street Zen raised shares of Ferguson from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Oppenheimer raised their target price on shares of Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. UBS Group raised their target price on shares of Ferguson from $204.00 to $225.00 and gave the company a "neutral" rating in a research note on Wednesday, September 17th. Finally, Robert W. Baird raised their target price on shares of Ferguson from $260.00 to $262.00 and gave the company an "outperform" rating in a research note on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $235.71.

Ferguson Price Performance

Shares of FERG opened at $234.69 on Thursday. The stock has a 50 day simple moving average of $228.68. The firm has a market cap of $46.03 billion, a PE ratio of 25.13, a P/E/G ratio of 1.90 and a beta of 1.17. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94. Ferguson plc has a 12-month low of $146.00 and a 12-month high of $243.40.

Ferguson (NYSE:FERG - Get Free Report) last announced its quarterly earnings data on Tuesday, September 16th. The company reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.00 by $0.48. The company had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.44 billion. Ferguson had a net margin of 6.03% and a return on equity of 35.21%.

Ferguson Announces Dividend

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

Ferguson Profile

Ferguson Enterprises Inc distributes plumbing and heating products in North America. The company provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, and fabrication, as well as heating, ventilation, and air conditioning (HVAC) to residential and non-residential customers.

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