OMERS ADMINISTRATION Corp trimmed its stake in shares of Ferguson plc (NYSE:FERG – Free Report) by 18.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,214 shares of the company’s stock after selling 3,230 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Ferguson were worth $3,373,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of FERG. Leonteq Securities AG purchased a new stake in Ferguson in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Ferguson during the 4th quarter valued at approximately $26,000. Compass Financial Management LLC purchased a new position in shares of Ferguson during the 2nd quarter valued at approximately $32,000. Zions Bancorporation National Association UT lifted its stake in shares of Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares during the period. Finally, Johnson Financial Group Inc. purchased a new stake in Ferguson during the third quarter worth $34,000. 81.98% of the stock is currently owned by hedge funds and other institutional investors.
Ferguson Price Performance
Shares of NYSE FERG opened at $232.66 on Wednesday. The firm has a market cap of $45.01 billion, a PE ratio of 27.34, a PEG ratio of 1.64 and a beta of 1.14. The firm has a fifty day moving average of $237.14 and a 200 day moving average of $240.04. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73. Ferguson plc has a one year low of $207.64 and a one year high of $271.64.
Ferguson announced that its board has initiated a stock buyback program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Ferguson Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. Ferguson’s dividend payout ratio is 41.83%.
Wall Street Analyst Weigh In
FERG has been the topic of several analyst reports. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target on the stock in a research report on Friday, July 17th. UBS Group increased their target price on shares of Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $261.00 target price on shares of Ferguson in a research note on Tuesday, August 18th. Royal Bank Of Canada lifted their price target on Ferguson from $281.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.93.
View Our Latest Report on Ferguson
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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