Hsbc Holdings PLC Has $101.42 Million Holdings in Ferguson plc $FERG

Key Points

• Hsbc Holdings increased its Ferguson stake by 81.4% in the second quarter, bringing its holdings to 427,091 shares valued at approximately $101.4 million. Institutional investors collectively own 81.98% of Ferguson.
• Ferguson reported quarterly EPS of $3.39, exceeding analysts’ $3.23 estimate, on revenue of $8.75 billion. The company also declared a quarterly dividend of $0.89 per share, representing a 1.6% yield.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $285.57 versus the stock’s $228.53 opening price. Ferguson shares recently traded near the midpoint of their 52-week range.

Hsbc Holdings PLC grew its position in shares of Ferguson plc (NYSE:FERG - Free Report) by 81.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 427,091 shares of the company's stock after buying an additional 191,609 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Ferguson worth $101,419,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Leonteq Securities AG acquired a new stake in Ferguson during the 4th quarter valued at $26,000. Basepoint Wealth LLC bought a new position in Ferguson in the 4th quarter valued at $26,000. Zions Bancorporation National Association UT raised its position in Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company's stock valued at $32,000 after purchasing an additional 79 shares during the last quarter. Compass Financial Management LLC acquired a new position in Ferguson in the second quarter worth $32,000. Finally, Johnson Financial Group Inc. acquired a new position in Ferguson in the third quarter worth $34,000. Institutional investors and hedge funds own 81.98% of the company's stock.

Insider Activity at Ferguson

In related news, insider Jake Schlicher sold 5,177 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $230.92, for a total value of $1,195,472.84. Following the transaction, the insider directly owned 9,490 shares in the company, valued at $2,191,430.80. This represents a 35.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Ferguson Trading Up 0.1%

FERG stock opened at $228.53 on Monday. The company has a market cap of $44.21 billion, a P/E ratio of 26.85, a PEG ratio of 1.58 and a beta of 1.13. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average of $235.52 and a 200-day moving average of $238.07.

Ferguson (NYSE:FERG - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.16. The business had revenue of $8.75 billion for the quarter. Ferguson had a return on equity of 37.24% and a net margin of 6.82%. As a group, equities research analysts expect that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be given a dividend of $0.89 per share. The ex-dividend date is Friday, August 21st. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. Ferguson's payout ratio is currently 41.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FERG. Sanford C. Bernstein raised their target price on Ferguson from $310.00 to $325.00 and gave the company an "outperform" rating in a research note on Tuesday, August 11th. Barclays upped their price target on shares of Ferguson from $297.00 to $313.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. The Goldman Sachs Group lowered shares of Ferguson from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $315.00 to $265.00 in a report on Monday, July 6th. UBS Group raised their price objective on shares of Ferguson from $252.00 to $256.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $261.00 target price on shares of Ferguson in a research note on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $285.57.

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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