Franklin Resources Inc. Purchases 227,957 Shares of Ferguson plc (NASDAQ:FERG)

Franklin Resources Inc. boosted its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,599,911 shares of the company's stock after buying an additional 227,957 shares during the quarter. Franklin Resources Inc. owned about 1.30% of Ferguson worth $451,337,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FERG. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Ferguson by 1.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,390 shares of the company's stock valued at $1,109,000 after acquiring an additional 80 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Ferguson by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,834 shares of the company's stock valued at $4,137,000 after purchasing an additional 86 shares during the last quarter. Caprock Group LLC raised its position in shares of Ferguson by 2.8% in the fourth quarter. Caprock Group LLC now owns 3,496 shares of the company's stock valued at $610,000 after purchasing an additional 94 shares during the period. Assetmark Inc. lifted its stake in shares of Ferguson by 41.1% in the fourth quarter. Assetmark Inc. now owns 333 shares of the company's stock worth $58,000 after buying an additional 97 shares during the last quarter. Finally, Inspire Advisors LLC boosted its holdings in shares of Ferguson by 3.7% during the 4th quarter. Inspire Advisors LLC now owns 3,001 shares of the company's stock worth $521,000 after buying an additional 108 shares during the period. 81.98% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wolfe Research assumed coverage on shares of Ferguson in a research report on Monday, March 17th. They set a "peer perform" rating for the company. Oppenheimer cut their price objective on Ferguson from $234.00 to $189.00 and set an "outperform" rating for the company in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their target price on Ferguson from $205.00 to $180.00 and set an "overweight" rating on the stock in a report on Wednesday, March 12th. Barclays cut their price target on Ferguson from $211.00 to $190.00 and set an "overweight" rating for the company in a report on Wednesday, March 12th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $189.00 price objective on shares of Ferguson in a research note on Tuesday, March 18th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $198.62.

Ferguson Price Performance

Shares of FERG stock traded down $6.39 during mid-day trading on Thursday, reaching $158.42. The company's stock had a trading volume of 2,915,636 shares, compared to its average volume of 1,519,068. 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 firm's 50-day moving average is $172.66 and its two-hundred day moving average is $187.10. Ferguson plc has a 1-year low of $152.52 and a 1-year high of $225.63. The company has a market cap of $31.68 billion, a P/E ratio of 19.02, a PEG ratio of 1.69 and a beta of 1.28.

Ferguson (NASDAQ:FERG - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $1.52 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.06). Ferguson had a return on equity of 34.63% and a net margin of 5.68%. The business had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.76 billion. During the same quarter in the prior year, the business earned $1.74 EPS. The firm's revenue for the quarter was up 3.0% on a year-over-year basis. On average, research analysts predict that Ferguson plc will post 9.4 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, March 21st will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, March 21st. Ferguson's dividend payout ratio is 40.84%.

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.