C WorldWide Group Holding A S trimmed its stake in shares of Ferguson plc (NYSE:FERG – Free Report) by 59.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,738 shares of the company’s stock after selling 77,024 shares during the quarter. C WorldWide Group Holding A S’s holdings in Ferguson were worth $12,302,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FERG. Wellington Management Group LLP grew its stake in shares of Ferguson by 150.8% during the fourth quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock worth $2,085,256,000 after buying an additional 5,631,554 shares during the last quarter. Norges Bank bought a new position in shares of Ferguson in the 4th quarter valued at $498,005,000. Durable Capital Partners LP acquired a new stake in shares of Ferguson during the 3rd quarter valued at $244,561,000. Qube Research & Technologies Ltd boosted its holdings in shares of Ferguson by 588.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock valued at $244,236,000 after acquiring an additional 929,475 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its position in Ferguson by 502.8% during the 3rd quarter. Voloridge Investment Management LLC now owns 765,725 shares of the company’s stock worth $171,967,000 after acquiring an additional 638,692 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on FERG shares. Barclays lifted their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Wells Fargo & Company upped their price target on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $276.61.
Ferguson Trading Up 1.4%
NYSE FERG opened at $233.76 on Friday. The stock has a market capitalization of $45.34 billion, a P/E ratio of 27.18, a P/E/G ratio of 1.63 and a beta of 1.13. The business has a 50 day simple moving average of $230.54 and a 200 day simple moving average of $240.36. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. Ferguson plc has a one year low of $207.64 and a one year high of $271.64.
Ferguson (NYSE:FERG – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%.Ferguson’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.50 earnings per share. Research analysts expect that Ferguson plc will post 11.27 earnings per share for the current year.
Ferguson declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
Ferguson Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.
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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