Daiwa Securities Group Inc. Decreases Position in Ferguson plc $FERG

Daiwa Securities Group Inc. lessened its holdings in Ferguson plc (NYSE:FERG) by 54.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,685 shares of the company’s stock after selling 39,675 shares during the period. Daiwa Securities Group Inc.’s holdings in Ferguson were worth $7,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new position in Ferguson in the 4th quarter valued at approximately $26,000. Leonteq Securities AG purchased a new position in Ferguson in the 4th quarter valued at approximately $26,000. Central Pacific Bank Trust Division purchased a new position in Ferguson in the 4th quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new position in Ferguson in the 3rd quarter valued at approximately $28,000. Finally, Grove Bank & Trust boosted its position in Ferguson by 154.4% in the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Upgrades and Downgrades

FERG has been the subject of several recent research reports. Truist Financial raised their price target on shares of Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Barclays lifted their price objective 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. Wells Fargo & Company lifted their price objective on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Finally, Oppenheimer lifted their price objective on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $273.64.

Ferguson Price Performance

Ferguson stock opened at $229.14 on Monday. The stock has a market cap of $44.44 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company has a fifty day simple moving average of $241.02 and a 200-day simple moving average of $241.37. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68.

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

Ferguson announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Ferguson Announces Dividend

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

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.