Capital Research Global Investors Has $386.04 Million Stock Position in Ferguson plc $FERG

Capital Research Global Investors lifted its stake in Ferguson plc (NYSE:FERG) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,733,986 shares of the company’s stock after acquiring an additional 12,822 shares during the period. Capital Research Global Investors owned approximately 0.89% of Ferguson worth $386,037,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Leonteq Securities AG acquired a new stake in Ferguson during the fourth quarter worth $26,000. Basepoint Wealth LLC acquired a new stake in Ferguson during the fourth quarter worth $26,000. Central Pacific Bank Trust Division acquired a new stake in Ferguson during the fourth quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in Ferguson during the third quarter worth $28,000. Finally, Grove Bank & Trust boosted its stake in Ferguson by 154.4% during the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Down 0.2%

Shares of NYSE:FERG opened at $229.14 on Monday. 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 company’s fifty day moving average is $241.02 and its 200-day moving average is $241.37. The company 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.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.14 by $0.14. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the firm posted $2.50 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

The business also recently disclosed 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. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Ferguson announced that its board has authorized a stock repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Oppenheimer lifted their price target on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Barclays boosted their target price on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. UBS Group boosted their target price on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company boosted their target price on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.