Franklin Resources Inc. Grows Stock Holdings in Ferguson plc $FERG

Franklin Resources Inc. grew its position in Ferguson plc (NYSE:FERG) by 2.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,367,818 shares of the company’s stock after buying an additional 112,157 shares during the quarter. Franklin Resources Inc.’s holdings in Ferguson were worth $980,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC lifted its stake in Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after acquiring an additional 82 shares in the last quarter. Quent Capital LLC purchased a new position in Ferguson during the 3rd quarter valued at about $43,000. MassMutual Private Wealth & Trust FSB grew its position in Ferguson by 21.7% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 292 shares of the company’s stock valued at $66,000 after acquiring an additional 52 shares in the last quarter. CX Institutional increased its stake in Ferguson by 9,900.0% during the third quarter. CX Institutional now owns 300 shares of the company’s stock worth $67,000 after purchasing an additional 297 shares during the period. Finally, Mendota Financial Group LLC purchased a new stake in Ferguson during the third quarter worth about $69,000. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays increased their price target on shares of Ferguson from $278.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Ferguson from $237.00 to $246.00 and gave the stock a “hold” rating in a research note on Thursday, December 11th. Wall Street Zen lowered shares of Ferguson from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Oppenheimer boosted their price target on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company upped their price objective on Ferguson from $280.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.62.

Ferguson Stock Performance

Shares of FERG opened at $227.98 on Wednesday. The stock has a 50-day simple moving average of $248.78 and a 200-day simple moving average of $240.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88. The stock has a market capitalization of $44.34 billion, a PE ratio of 23.03, a PEG ratio of 1.85 and a beta of 1.17. Ferguson plc has a 1 year low of $146.00 and a 1 year high of $271.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.99 EPS for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.During the same period last year, the company earned $1.52 EPS. The firm’s revenue was up 3.6% on a year-over-year basis.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, March 6th. Ferguson’s payout ratio is 35.96%.

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.