Swedbank AB Grows Stake in Ferguson plc $FERG

Key Points

• Swedbank AB has increased its stake in Ferguson plc by 16.4%, now owning 132,960 shares valued at approximately $28.95 million.
• Ferguson recently announced a quarterly dividend of $0.83, representing an annualized yield of 1.4% with a payout ratio of 35.55%.
• Several analysts have raised their price targets for Ferguson, with a consensus rating of "Moderate Buy" and a target price of $235.71.

Swedbank AB increased its position in Ferguson plc (NASDAQ:FERG - Free Report) by 16.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 132,960 shares of the company's stock after buying an additional 18,710 shares during the period. Swedbank AB owned about 0.07% of Ferguson worth $28,952,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft boosted its holdings in shares of Ferguson by 37.0% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 59,000 shares of the company's stock valued at $12,847,000 after purchasing an additional 15,935 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Ferguson during the 2nd quarter valued at about $257,000. Aaron Wealth Advisors LLC purchased a new stake in shares of Ferguson during the 2nd quarter valued at about $232,000. First Bank & Trust purchased a new stake in shares of Ferguson during the 2nd quarter valued at about $203,000. Finally, Parallel Advisors LLC raised its position in shares of Ferguson by 25.2% during the 2nd quarter. Parallel Advisors LLC now owns 1,395 shares of the company's stock valued at $304,000 after buying an additional 281 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FERG shares. Royal Bank Of Canada upped their target price on shares of Ferguson from $231.00 to $243.00 and gave the company an "outperform" rating in a research report on Wednesday. Oppenheimer upped their target price on shares of Ferguson from $235.00 to $255.00 and gave the company an "outperform" rating in a research report on Wednesday. Morgan Stanley restated an "overweight" rating on shares of Ferguson in a research report on Wednesday, September 10th. Barclays increased their price objective on shares of Ferguson from $247.00 to $273.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, Truist Financial increased their price objective on shares of Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $235.71.

Ferguson Stock Up 0.1%

FERG traded up $0.13 during trading on Friday, hitting $229.33. The stock had a trading volume of 2,885,933 shares, compared to its average volume of 1,770,834. The company has a market capitalization of $45.22 billion, a PE ratio of 27.53, a PEG ratio of 1.69 and a beta of 1.15. Ferguson plc has a twelve month low of $146.00 and a twelve month high of $243.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 1.68. The stock has a 50 day simple moving average of $226.91 and a two-hundred day simple moving average of $198.30.

Ferguson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, September 26th will be issued a dividend of $0.83 per share. 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%.

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.