Gulf International Bank UK Ltd Sells 4,631 Shares of Ferguson plc $FERG

Key Points

• Gulf International Bank UK Ltd reduced its stake in Ferguson plc by 29%, selling 4,631 shares during the first quarter, with current holdings valued at approximately $1.82 million.
• Ferguson plc recently declared a quarterly dividend of $0.83 per share, resulting in an annualized dividend of $3.32 and a yield of 1.5%.
• Wall Street analysts are optimistic about Ferguson, with the majority rating the stock as a "Moderate Buy" and setting a consensus target price of approximately $220.64.

Gulf International Bank UK Ltd decreased its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 29.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,362 shares of the company's stock after selling 4,631 shares during the period. Gulf International Bank UK Ltd's holdings in Ferguson were worth $1,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Ferguson by 4.4% during 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 in the last quarter. Bank of New York Mellon Corp increased its stake in Ferguson by 24.5% in 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 last quarter. Invesco Ltd. increased its stake in Ferguson by 13.8% in 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 last quarter. Janus Henderson Group PLC increased its stake in Ferguson by 1.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,935,419 shares of the company's stock valued at $856,746,000 after buying an additional 62,887 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its stake in Ferguson by 29.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 3,635,707 shares of the company's stock valued at $582,452,000 after buying an additional 831,112 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted their price objective on shares of Ferguson from $189.00 to $231.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 4th. Barclays boosted their price objective on shares of Ferguson from $190.00 to $247.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 4th. Truist Financial reaffirmed a "buy" rating and set a $230.00 target price on shares of Ferguson in a report on Wednesday, June 4th. UBS Group lifted their target price on shares of Ferguson from $173.00 to $204.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Finally, Berenberg Bank reaffirmed a "hold" rating and set a $215.00 target price on shares of Ferguson in a report on Thursday, June 5th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Ferguson presently has a consensus rating of "Moderate Buy" and an average target price of $220.64.

Ferguson Trading Up 0.1%

NASDAQ FERG traded up $0.14 during mid-day trading on Monday, reaching $231.40. 1,183,032 shares of the stock were exchanged, compared to its average volume of 1,717,598. Ferguson plc has a one year low of $146.00 and a one year high of $232.92. The stock has a 50 day simple moving average of $220.99 and a 200-day simple moving average of $189.54. The stock has a market cap of $45.63 billion, a P/E ratio of 27.78, a P/E/G ratio of 1.69 and a beta of 1.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.68 and a quick ratio of 0.91.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings results on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.44. Ferguson had a net margin of 5.68% and a return on equity of 34.63%. During the same period in the prior year, the company earned $2.32 earnings per share. The company's revenue was up 4.3% on a year-over-year basis. On average, analysts anticipate that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Friday, June 20th were issued a dividend of $0.83 per share. The ex-dividend date was Friday, June 20th. This represents a $3.32 annualized dividend and a yield of 1.4%. Ferguson's payout ratio is 41.40%.

About Ferguson

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.