Ferguson plc $FERG Holdings Cut by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its position in shares of Ferguson plc (NYSE:FERG) by 8.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 84,187 shares of the company’s stock after selling 7,909 shares during the period. BNP Paribas Financial Markets’ holdings in Ferguson were worth $18,743,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $2,445,000 after buying an additional 2,940 shares during the last quarter. Caxton Associates LLP bought a new stake in shares of Ferguson during the first quarter valued at approximately $310,000. Focus Partners Wealth raised its holdings in shares of Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after buying an additional 581 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Ferguson during the second quarter valued at approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Ferguson by 7.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after buying an additional 48 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Price Performance

NYSE FERG opened at $229.14 on Friday. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64. 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 $44.44 billion, a PE ratio of 26.64, a P/E/G ratio of 1.63 and a beta of 1.15. The company’s 50 day simple moving average is $241.02 and its 200 day simple moving average is $241.33.

Ferguson (NYSE:FERG) last posted 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 for the quarter. During the same quarter in the prior year, the business earned $2.50 EPS. Ferguson’s revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts forecast that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be given a $0.89 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.56 annualized dividend and a yield of 1.6%. Ferguson’s payout ratio is 41.40%.

Ferguson declared that its board has initiated a stock buyback program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FERG. Barclays lifted their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Oppenheimer lifted their price target on Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Wells Fargo & Company lifted their price target on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Ferguson in a report on Tuesday, February 24th. Finally, UBS Group lifted their price target on Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.64.

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.