Ferguson plc $FERG Shares Sold by Fisher Funds Management LTD

Fisher Funds Management LTD lowered its position in Ferguson plc (NYSE:FERG) by 8.4% in the first quarter, HoldingsChannel reports. The firm owned 147,016 shares of the company’s stock after selling 13,412 shares during the period. Fisher Funds Management LTD’s holdings in Ferguson were worth $34,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC raised its stake in Ferguson by 8.9% during the first quarter. Triad Wealth Partners LLC now owns 1,328 shares of the company’s stock worth $310,000 after purchasing an additional 109 shares during the period. E. Ohman J or Asset Management AB boosted its holdings in Ferguson by 7.9% in the 1st quarter. E. Ohman J or Asset Management AB now owns 7,120 shares of the company’s stock valued at $1,661,000 after purchasing an additional 520 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Ferguson by 83.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,815 shares of the company’s stock valued at $1,072,000 after purchasing an additional 2,196 shares during the last quarter. World Investment Advisors grew its stake in shares of Ferguson by 36.1% in the 4th quarter. World Investment Advisors now owns 1,583 shares of the company’s stock valued at $352,000 after buying an additional 420 shares during the period. Finally, Larry Mathis Financial Planning LLC purchased a new stake in shares of Ferguson in the 4th quarter valued at approximately $272,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a $300.00 price target on shares of Ferguson in a report on Tuesday, February 24th. Weiss Ratings lowered Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Oppenheimer raised their target price on Ferguson from $255.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 25th. Barclays lifted their target price on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Citigroup reiterated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. One analyst has 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $277.58.

Ferguson Price Performance

FERG opened at $239.04 on Monday. The stock’s 50-day moving average price is $240.66 and its 200 day moving average price is $240.53. 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. The firm has a market cap of $46.36 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 1.69 and a beta of 1.15.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.50 earnings per share. As a group, sell-side analysts expect that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson declared that its Board of Directors has authorized a share repurchase plan on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Ferguson Dividend Announcement

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

About Ferguson

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.