Truist Financial Corp Raises Stock Position in Ferguson plc $FERG

Key Points

• Truist Financial Corp increased its stake in Ferguson plc by 42.4% during the second quarter, owning 299,188 shares valued at approximately $65.15 million.
• Ferguson declared a quarterly dividend of $0.83 per share, with a dividend yield of 1.5%, to be paid on November 7th.
• Research analysts have updated their price targets for Ferguson, with most firms assigning a "Buy" rating and a consensus target price of $235.71.

Truist Financial Corp grew its position in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 42.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 299,188 shares of the company's stock after purchasing an additional 89,109 shares during the period. Truist Financial Corp owned approximately 0.15% of Ferguson worth $65,148,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Grove Bank & Trust grew its position in shares of Ferguson by 247.4% during the first quarter. Grove Bank & Trust now owns 198 shares of the company's stock valued at $32,000 after purchasing an additional 141 shares in the last quarter. Whipplewood Advisors LLC grew its position in shares of Ferguson by 166.7% during the first quarter. Whipplewood Advisors LLC now owns 208 shares of the company's stock valued at $33,000 after purchasing an additional 130 shares in the last quarter. TD Private Client Wealth LLC grew its position in shares of Ferguson by 56.5% during the first quarter. TD Private Client Wealth LLC now owns 205 shares of the company's stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Brooklyn Investment Group grew its position in shares of Ferguson by 103.6% during the first quarter. Brooklyn Investment Group now owns 226 shares of the company's stock valued at $36,000 after purchasing an additional 115 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Ferguson by 230.8% during the second quarter. Fifth Third Bancorp now owns 172 shares of the company's stock valued at $37,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company's stock.

Ferguson Stock Performance

Ferguson stock opened at $225.67 on Thursday. The company has a 50 day moving average price of $227.93 and a 200-day moving average price of $201.68. 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 fifty-two week low of $146.00 and a fifty-two week high of $243.40. The company has a market capitalization of $44.27 billion, a PE ratio of 27.09, a P/E/G ratio of 1.69 and a beta of 1.15.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, September 26th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 26th. Ferguson's payout ratio is currently 35.55%.

Wall Street Analyst Weigh In

Several research analysts recently commented on FERG shares. JPMorgan Chase & Co. lifted their price target on Ferguson from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. UBS Group lifted their price target on Ferguson from $204.00 to $225.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 17th. Truist Financial lifted their price target on Ferguson from $240.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, September 17th. The Goldman Sachs Group started coverage on Ferguson in a research report on Wednesday, June 18th. They issued a "buy" rating and a $280.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Ferguson from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 17th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $235.71.

Ferguson 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.

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