Erste Asset Management GmbH Invests $506,000 in Ferguson plc $FERG

Erste Asset Management GmbH purchased a new position in shares of Ferguson plc (NYSE:FERG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,229 shares of the company’s stock, valued at approximately $506,000.

Other hedge funds have also recently made changes to their positions in the company. Leonteq Securities AG purchased a new stake in shares of Ferguson during the 4th quarter worth $26,000. Basepoint Wealth LLC purchased a new stake in shares of Ferguson during the 4th quarter worth $26,000. Central Pacific Bank Trust Division purchased a new stake in Ferguson in the fourth quarter valued at about $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Ferguson in the third quarter valued at about $28,000. Finally, Grove Bank & Trust raised its stake in Ferguson by 154.4% in the fourth 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 last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FERG has been the subject of a number of research analyst reports. Barclays increased their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Wells Fargo & Company increased their price objective on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Oppenheimer increased their price objective on Ferguson from $255.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Truist Financial increased their price objective on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings lowered Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.77.

Ferguson Stock Down 4.5%

Shares of FERG stock opened at $224.82 on Thursday. The firm has a market capitalization of $43.60 billion, a PE ratio of 26.14, a P/E/G ratio of 1.67 and a beta of 1.15. Ferguson plc has a fifty-two week low of $207.64 and a fifty-two week high of $271.64. The stock’s 50-day simple moving average is $241.29 and its 200-day simple moving average is $241.22. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78.

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

Ferguson Dividend Announcement

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

Ferguson announced that its board has approved a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 3.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.