Janus Henderson Group PLC Increases Stock Holdings in Ferguson plc $FERG

Janus Henderson Group PLC increased its holdings in shares of Ferguson plc (NYSE:FERG) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,981,791 shares of the company’s stock after buying an additional 434,650 shares during the period. Ferguson comprises approximately 0.6% of Janus Henderson Group PLC’s investment portfolio, making the stock its 26th largest holding. Janus Henderson Group PLC’s holdings in Ferguson were worth $1,331,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Leonteq Securities AG purchased a new position in shares of Ferguson during the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Ferguson during the 4th quarter valued at approximately $26,000. Central Pacific Bank Trust Division purchased a new position in Ferguson in the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL purchased a new position in Ferguson in the 3rd quarter valued at $28,000. Finally, Grove Bank & Trust lifted its holdings in Ferguson by 154.4% in the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FERG. Barclays raised their price objective on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada raised their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings lowered Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Truist Financial raised their price objective on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $277.58.

Ferguson Stock Down 2.0%

NYSE FERG opened at $230.14 on Thursday. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The business’s fifty day simple moving average is $240.81 and its 200-day simple moving average is $240.70. The firm has a market cap of $44.63 billion, a PE ratio of 26.76, a P/E/G ratio of 1.66 and a beta of 1.15.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the firm earned $2.50 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson’s payout ratio is 41.40%.

Ferguson announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Ferguson Company 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.