Ferguson plc $FERG Stock Holdings Lowered by Baupost Group LLC MA

Baupost Group LLC MA reduced its holdings in Ferguson plc (NYSE:FERG) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,137,035 shares of the company’s stock after selling 18,465 shares during the period. Ferguson comprises 4.8% of Baupost Group LLC MA’s holdings, making the stock its 10th biggest position. Baupost Group LLC MA owned about 0.58% of Ferguson worth $253,138,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Basepoint Wealth LLC purchased a new stake in Ferguson during the fourth quarter worth $26,000. Leonteq Securities AG purchased a new stake in Ferguson during the fourth quarter worth $26,000. Central Pacific Bank Trust Division purchased a new stake in Ferguson during the fourth quarter worth $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Ferguson during the third quarter worth $28,000. Finally, Zions Bancorporation National Association UT boosted its holdings in Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after buying an additional 79 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, February 25th. Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Truist Financial upped their price objective on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Wells Fargo & Company increased their target price on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $277.77.

Ferguson Trading Up 0.9%

Shares of FERG stock opened at $230.13 on Friday. 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 cap of $44.63 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The company has a 50-day moving average of $240.99 and a two-hundred day moving average of $241.08. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping 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 during the quarter. During the same period last year, the business earned $2.50 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that Ferguson plc will post 11.26 EPS for the current year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be paid a $0.89 dividend. The ex-dividend date is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a yield of 1.5%. Ferguson’s payout ratio is currently 41.40%.

Ferguson announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management 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.