Royal Bank of Canada trimmed its holdings in shares of Ferguson plc (NYSE:FERG – Free Report) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,038,769 shares of the company’s stock after selling 95,808 shares during the quarter. Royal Bank of Canada owned about 1.05% of Ferguson worth $475,564,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Ferguson by 23.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after purchasing an additional 2,940 shares during the last quarter. Caxton Associates LLP acquired a new position in Ferguson during the first quarter valued at approximately $310,000. Focus Partners Wealth raised its position in shares of Ferguson by 22.7% in the first 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 bought a new position in shares of Ferguson in the second quarter valued at approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Ferguson by 7.5% in the second 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. 81.98% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently issued reports on FERG shares. Royal Bank Of Canada upped their price objective on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Barclays boosted their target price on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Citigroup restated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and lowered their price target for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Finally, Wells Fargo & Company lifted their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Ferguson has an average rating of “Moderate Buy” and a consensus target price of $277.21.
Ferguson Stock Performance
NYSE FERG opened at $232.69 on Wednesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The firm has a market capitalization of $45.13 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 1.66 and a beta of 1.13. The company’s fifty day moving average is $230.32 and its two-hundred day moving average is $240.67. 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 quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business had revenue of $7.47 billion during the quarter. During the same period in the prior year, the company posted $2.50 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts forecast that Ferguson plc will post 11.25 EPS for the current year.
Ferguson Announces Dividend
The company 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. The ex-dividend date of this dividend was Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.5%. Ferguson’s dividend payout ratio is 41.40%.
Ferguson announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management 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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