Van Lanschot Kempen Investment Management N.V. lessened its holdings in Ferguson plc (NYSE:FERG – Free Report) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,392 shares of the company’s stock after selling 4,584 shares during the quarter. Van Lanschot Kempen Investment Management N.V.’s holdings in Ferguson were worth $17,230,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FERG. Leonteq Securities AG bought a new stake in Ferguson during the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new stake in Ferguson during the fourth quarter worth $26,000. Central Pacific Bank Trust Division bought a new stake in Ferguson during the fourth quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Ferguson during the third quarter worth $28,000. Finally, Grove Bank & Trust raised its position in Ferguson by 154.4% during the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after acquiring an additional 88 shares in the last quarter. 81.98% of the stock is owned by institutional investors.
Analyst Ratings Changes
FERG has been the topic of several analyst reports. UBS Group upped their price target on shares of Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 25th. Wells Fargo & Company upped their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Oppenheimer upped their price target on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Weiss Ratings lowered shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Ferguson in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.77.
Ferguson Stock Performance
Shares of FERG stock opened at $230.13 on Friday. The company has a market capitalization of $44.63 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 1.61 and a beta of 1.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The company has a 50-day simple moving average of $240.99 and a 200 day simple moving average of $241.08. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64.
Ferguson (NYSE:FERG – Get Free Report) last announced its 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. The business had revenue of $7.47 billion during the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 EPS. On average, sell-side analysts predict that Ferguson plc will post 11.26 earnings per share for the current year.
Ferguson announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
Ferguson Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s payout ratio is presently 41.40%.
Ferguson 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.
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