University of Texas Texas AM Investment Management Co. cut its stake in Ferguson plc (NYSE:FERG – Free Report) by 52.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,134 shares of the company’s stock after selling 3,411 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Ferguson were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its stake in shares of Ferguson by 1.1% during the 4th quarter. Signaturefd LLC now owns 3,979 shares of the company’s stock worth $886,000 after buying an additional 44 shares during the last quarter. Simplicity Wealth LLC boosted its stake in shares of Ferguson by 1.6% during the 4th quarter. Simplicity Wealth LLC now owns 3,132 shares of the company’s stock worth $697,000 after buying an additional 48 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in shares of Ferguson by 2.9% during the 4th quarter. Sivia Capital Partners LLC now owns 1,685 shares of the company’s stock worth $375,000 after buying an additional 48 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after buying an additional 48 shares during the last quarter. Finally, REAP Financial Group LLC boosted its stake in shares of Ferguson by 13.4% during the 4th quarter. REAP Financial Group LLC now owns 431 shares of the company’s stock worth $96,000 after buying an additional 51 shares during the last quarter. 81.98% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently commented on FERG shares. Jefferies Financial Group restated a “buy” rating and set a $300.00 price objective on shares of Ferguson in a research note on Tuesday, February 24th. Truist Financial increased their price objective on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Oppenheimer increased their price objective on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Barclays increased their price objective 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. Finally, Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Ferguson currently has an average rating of “Moderate Buy” and an average target price of $277.77.
Ferguson Stock Up 2.5%
Ferguson stock opened at $235.78 on Tuesday. The stock has a market cap of $45.73 billion, a P/E ratio of 27.42, a P/E/G ratio of 1.63 and a beta of 1.15. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company’s 50-day moving average price is $241.00 and its two-hundred day moving average price is $240.99.
Ferguson (NYSE:FERG – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.14. The firm had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 earnings per share. As a group, analysts expect that Ferguson plc will post 11.26 EPS for the current year.
Ferguson Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, May 15th. Ferguson’s dividend payout ratio is currently 41.40%.
Ferguson declared that its board has authorized a stock buyback plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Ferguson Company 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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