Ferguson plc $FERG Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has decreased its stake in Ferguson plc by 5.7%, owning 641,026 shares worth $102.19 million after selling 38,750 shares in the first quarter.
• Ferguson announced a quarterly dividend of $0.83 per share, translating to an annualized dividend of $3.32 and a yield of 1.4%.
• The company's most recent earnings report showed a 4.3% rise in revenue year-over-year, with an EPS of $2.50, exceeding expectations by $0.44.

Hsbc Holdings PLC lessened its holdings in Ferguson plc (NASDAQ:FERG - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 641,026 shares of the company's stock after selling 38,750 shares during the quarter. Hsbc Holdings PLC owned about 0.32% of Ferguson worth $102,192,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ferguson by 14.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,782 shares of the company's stock worth $928,000 after purchasing an additional 722 shares during the last quarter. Fiera Capital Corp raised its stake in shares of Ferguson by 37.5% during the 1st quarter. Fiera Capital Corp now owns 13,042 shares of the company's stock valued at $2,090,000 after buying an additional 3,559 shares during the last quarter. Empower Advisory Group LLC acquired a new position in shares of Ferguson in the 1st quarter valued at about $843,000. Ground Swell Capital LLC purchased a new stake in shares of Ferguson in the first quarter worth about $299,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in Ferguson by 24.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,393 shares of the company's stock valued at $544,000 after acquiring an additional 657 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on FERG shares. Oppenheimer boosted their price target on Ferguson from $189.00 to $235.00 and gave the company an "outperform" rating in a report on Wednesday, June 4th. UBS Group boosted their target price on shares of Ferguson from $173.00 to $204.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Morgan Stanley reissued an "overweight" rating and set a $220.00 price target (up from $195.00) on shares of Ferguson in a report on Monday, June 9th. Berenberg Bank reaffirmed a "hold" rating and issued a $215.00 price objective on shares of Ferguson in a report on Thursday, June 5th. Finally, The Goldman Sachs Group started coverage on shares of Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $220.64.

Ferguson Price Performance

Ferguson stock traded up $4.1880 during trading on Friday, reaching $233.2480. The company had a trading volume of 1,664,452 shares, compared to its average volume of 1,703,642. The firm has a market capitalization of $45.99 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16. The firm's 50-day simple moving average is $222.72 and its 200 day simple moving average is $191.20. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. Ferguson plc has a 1-year low of $146.00 and a 1-year high of $238.16.

Ferguson (NASDAQ:FERG - Get Free Report) last posted its quarterly earnings data on Tuesday, June 3rd. The company reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the firm earned $2.32 earnings per share. Ferguson's revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Ferguson plc will post 9.4 earnings per share for the current fiscal year.

Ferguson Announces Dividend

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

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.