ABN Amro Investment Solutions Lowers Stock Holdings in Ferguson plc $FERG

ABN Amro Investment Solutions reduced its stake in Ferguson plc (NYSE:FERGFree Report) by 7.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 174,343 shares of the company’s stock after selling 13,289 shares during the quarter. ABN Amro Investment Solutions’ holdings in Ferguson were worth $38,814,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of FERG. Central Pacific Bank Trust Division acquired a new position in Ferguson during the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Ferguson during the 3rd quarter worth approximately $28,000. Cornerstone Planning Group LLC increased its position 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 purchasing an additional 82 shares during the period. Grove Bank & Trust increased its position in Ferguson by 154.4% during the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares during the period. Finally, Johnson Financial Group Inc. acquired a new position in Ferguson during the 3rd quarter worth approximately $34,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Performance

FERG opened at $225.04 on Thursday. The stock has a market cap of $43.64 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.57 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $240.37 and its 200 day simple moving average is $243.12. Ferguson plc has a 1-year low of $176.26 and a 1-year high of $271.64.

Ferguson (NYSE:FERGGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The business had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.92% and a net margin of 6.98%.The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 EPS. As a group, equities analysts anticipate that Ferguson plc will post 11.25 EPS for the current fiscal year.

Ferguson announced that its board has initiated a share 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 reacquire up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Ferguson Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.6%. Ferguson’s dividend payout ratio is currently 41.40%.

Analysts Set New Price Targets

Several equities analysts have issued reports on FERG shares. Truist Financial boosted their target price on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada boosted their target price on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. UBS Group boosted their target price on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Oppenheimer boosted their target price on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Finally, Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average target price of $269.73.

View Our Latest Report on FERG

Ferguson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Ferguson (NYSE:FERG)

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