Xponance Inc. Takes $1.33 Million Position in Ferguson plc (NASDAQ:FERG)

Posted by Defense World Staff on Sep 28th, 2023

Xponance Inc. purchased a new position in shares of Ferguson plc (NASDAQ:FERG – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,482 shares of the company’s stock, valued at approximately $1,334,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Ferguson by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 9,046,579 shares of the company’s stock valued at $1,213,327,000 after purchasing an additional 191,587 shares during the period. FMR LLC boosted its holdings in Ferguson by 14.4% during the first quarter. FMR LLC now owns 7,687,009 shares of the company’s stock worth $1,012,828,000 after buying an additional 968,664 shares during the last quarter. Norges Bank acquired a new position in shares of Ferguson during the 4th quarter worth about $610,247,000. Barclays PLC increased its stake in shares of Ferguson by 342.3% in the 4th quarter. Barclays PLC now owns 3,592,353 shares of the company’s stock valued at $456,120,000 after acquiring an additional 2,780,118 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Ferguson by 9.8% in the 1st quarter. JPMorgan Chase & Co. now owns 2,642,184 shares of the company’s stock valued at $353,394,000 after acquiring an additional 235,236 shares during the period.

Ferguson Stock Performance

Ferguson stock opened at $163.35 on Thursday. The company has a fifty day simple moving average of $157.68 and a 200 day simple moving average of $147.95. The company has a quick ratio of 0.94, a current ratio of 1.78 and a debt-to-equity ratio of 0.83. Ferguson plc has a 1-year low of $99.16 and a 1-year high of $164.07.

Ferguson (NASDAQ:FERG – Get Free Report) last released its earnings results on Tuesday, September 26th. The company reported $2.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.33. Ferguson had a return on equity of 42.96% and a net margin of 6.31%. The business had revenue of $7.84 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the business earned $2.85 earnings per share. Ferguson’s quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts expect that Ferguson plc will post 9.56 EPS for the current fiscal year.

Ferguson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 6th will be paid a $0.75 dividend. The ex-dividend date is Thursday, October 5th. This represents a $3.00 annualized dividend and a dividend yield of 1.84%. Ferguson’s dividend payout ratio is presently 33.37%.

Analyst Upgrades and Downgrades

FERG has been the subject of several recent analyst reports. Barclays upped their target price on shares of Ferguson from $175.00 to $185.00 in a research note on Thursday, July 13th. Raymond James initiated coverage on Ferguson in a report on Friday, September 1st. They set an “outperform” rating on the stock. Northcoast Research assumed coverage on Ferguson in a report on Tuesday, June 13th. They issued a “buy” rating for the company. William Blair initiated coverage on Ferguson in a report on Friday, July 7th. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. increased their target price on Ferguson from $150.00 to $155.00 in a research note on Thursday, June 8th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4,142.63.

Get Our Latest Stock Analysis on Ferguson

Ferguson Company Profile

(Free Report)

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.