Anchor Capital Advisors LLC cut its position in shares of Ferguson plc (NYSE:FERG – Free Report) by 3.1% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 300,927 shares of the company’s stock after selling 9,703 shares during the period. Ferguson comprises 1.9% of Anchor Capital Advisors LLC’s holdings, making the stock its 9th largest position. Anchor Capital Advisors LLC’s holdings in Ferguson were worth $66,995,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of Ferguson by 1.1% in the fourth quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock valued at $886,000 after purchasing an additional 44 shares in the last quarter. Simplicity Wealth LLC grew its stake in Ferguson by 1.6% in the fourth quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock valued at $697,000 after purchasing an additional 48 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after purchasing an additional 48 shares during the last quarter. Founders Grove Wealth Partners LLC increased its holdings in Ferguson by 4.2% in the fourth quarter. Founders Grove Wealth Partners LLC now owns 1,353 shares of the company’s stock worth $301,000 after buying an additional 55 shares during the last quarter. Finally, Triad Wealth Partners LLC increased its stake in shares of Ferguson by 4.7% during the 4th quarter. Triad Wealth Partners LLC now owns 1,219 shares of the company’s stock worth $271,000 after purchasing an additional 55 shares during the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Citigroup reissued a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price target on shares of Ferguson in a report on Tuesday, February 24th. Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada raised 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. Finally, Barclays raised their price target on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $269.73.
Ferguson Trading Up 1.4%
Shares of NYSE FERG opened at $227.43 on Wednesday. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The company has a market cap of $44.11 billion, a PE ratio of 26.45, a P/E/G ratio of 1.59 and a beta of 1.15. The company has a 50-day moving average of $240.66 and a two-hundred day moving average of $241.79. Ferguson plc has a 1-year low of $200.96 and a 1-year high of $271.64.
Ferguson (NYSE:FERG – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.14. The firm had revenue of $7.47 billion for the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.50 EPS. As a group, equities analysts expect that Ferguson plc will post 11.26 earnings per share for the current fiscal year.
Ferguson Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is currently 41.40%.
Ferguson announced that its board has approved a share buyback plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
About Ferguson
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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