Franklin Resources Inc. Raises Stock Position in Ferguson plc (NASDAQ:FERG)

Franklin Resources Inc. raised its holdings in shares of Ferguson plc (NASDAQ:FERG - Free Report) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,371,954 shares of the company's stock after buying an additional 133,769 shares during the period. Franklin Resources Inc. owned about 1.18% of Ferguson worth $477,858,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Ferguson in the third quarter worth about $66,000. Anchor Investment Management LLC purchased a new stake in Ferguson in the 3rd quarter valued at about $112,000. Neo Ivy Capital Management bought a new position in Ferguson in the 3rd quarter worth about $970,000. Geode Capital Management LLC increased its position in shares of Ferguson by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,197,621 shares of the company's stock worth $633,409,000 after acquiring an additional 25,677 shares during the period. Finally, Barclays PLC raised its stake in shares of Ferguson by 76.9% during the third quarter. Barclays PLC now owns 867,593 shares of the company's stock valued at $172,281,000 after acquiring an additional 377,283 shares in the last quarter. Institutional investors own 81.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Citigroup increased their price objective on Ferguson from $203.00 to $221.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 18th. Berenberg Bank raised their price target on Ferguson from $224.00 to $240.00 and gave the company a "buy" rating in a research note on Wednesday. UBS Group lifted their price objective on Ferguson from $228.00 to $236.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Wells Fargo & Company dropped their target price on shares of Ferguson from $232.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Robert W. Baird reduced their price target on shares of Ferguson from $230.00 to $225.00 and set an "outperform" rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Ferguson currently has an average rating of "Moderate Buy" and an average target price of $231.00.

Insider Transactions at Ferguson

In other news, SVP Garland Williams sold 1,118 shares of the business's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $201.22, for a total transaction of $224,963.96. Following the sale, the senior vice president now directly owns 1,882 shares of the company's stock, valued at $378,696.04. The trade was a 37.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ian T. Graham sold 5,778 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $201.27, for a total value of $1,162,938.06. Following the completion of the transaction, the insider now owns 5,938 shares of the company's stock, valued at $1,195,141.26. This trade represents a 49.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,313 shares of company stock worth $2,477,901. Insiders own 0.16% of the company's stock.

Ferguson Stock Down 1.5 %

Shares of NASDAQ FERG traded down $2.86 during trading hours on Friday, hitting $187.49. 1,359,799 shares of the stock were exchanged, compared to its average volume of 1,722,326. Ferguson plc has a 12 month low of $183.63 and a 12 month high of $225.63. The firm has a fifty day moving average price of $203.74 and a 200-day moving average price of $202.32. The company has a quick ratio of 1.00, a current ratio of 1.80 and a debt-to-equity ratio of 0.89. The company has a market cap of $37.49 billion, a PE ratio of 19.76, a PEG ratio of 1.90 and a beta of 1.21.

Ferguson (NASDAQ:FERG - Get Free Report) last issued its quarterly earnings results on Tuesday, September 17th. The company reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.86 by $0.12. The business had revenue of $7.95 billion for the quarter, compared to the consensus estimate of $8.01 billion. Ferguson had a return on equity of 34.85% and a net margin of 5.68%. The business's quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.77 earnings per share. On average, sell-side analysts expect that Ferguson plc will post 9.4 EPS for the current year.

Ferguson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, December 20th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 1.77%. The ex-dividend date is Friday, December 20th. This is an increase from Ferguson's previous quarterly dividend of $0.79. Ferguson's dividend payout ratio (DPR) is currently 37.94%.

About Ferguson

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.