Clio Asset Management LLC lessened its stake in Ferguson plc (NYSE:FERG – Free Report) by 16.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 49,789 shares of the company’s stock after selling 9,452 shares during the period. Ferguson comprises about 9.7% of Clio Asset Management LLC’s investment portfolio, making the stock its 2nd largest position. Clio Asset Management LLC’s holdings in Ferguson were worth $11,614,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after acquiring an additional 2,940 shares during the last quarter. Caxton Associates LLP bought a new stake in Ferguson in the first quarter valued at approximately $310,000. Focus Partners Wealth increased its position in Ferguson by 22.7% during the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after purchasing an additional 581 shares during the period. Sivia Capital Partners LLC acquired a new stake in Ferguson during the 2nd quarter valued at approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 81.98% of the company’s stock.
Ferguson Price Performance
Shares of FERG opened at $240.83 on Friday. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. 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 business’s 50 day moving average price is $239.08 and its two-hundred day moving average price is $240.15. The firm has a market cap of $46.71 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.68 and a beta of 1.15.
Ferguson announced that its board has approved a share repurchase program on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management 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 given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson’s payout ratio is presently 41.40%.
Wall Street Analyst Weigh In
FERG has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted 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. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 20th. Barclays lifted their target price 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, Royal Bank Of Canada boosted their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.58.
Check Out Our Latest Stock Report on Ferguson
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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