Ferguson plc $FERG Shares Sold by Clio Asset Management LLC

Clio Asset Management LLC cut its holdings in shares of Ferguson plc (NYSE:FERG) by 16.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,789 shares of the company’s stock after selling 9,452 shares during the period. Ferguson comprises approximately 9.7% of Clio Asset Management LLC’s investment portfolio, making the stock its 2nd biggest position. Clio Asset Management LLC’s holdings in Ferguson were worth $11,614,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FERG. OLD National Bancorp IN boosted its stake in Ferguson by 5.5% in the first quarter. OLD National Bancorp IN now owns 1,443 shares of the company’s stock valued at $337,000 after buying an additional 75 shares in the last quarter. Live Oak Private Wealth LLC raised its stake in Ferguson by 5.1% during the first quarter. Live Oak Private Wealth LLC now owns 19,278 shares of the company’s stock worth $4,497,000 after acquiring an additional 931 shares in the last quarter. OP Asset Management Ltd bought a new position in shares of Ferguson in the first quarter worth about $9,185,000. Apella Capital LLC bought a new position in shares of Ferguson in the first quarter worth about $833,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Ferguson by 1,423.3% in the first quarter. Assenagon Asset Management S.A. now owns 112,971 shares of the company’s stock worth $26,352,000 after acquiring an additional 105,555 shares during the last quarter. Institutional investors and hedge funds own 81.98% of the company’s stock.

Ferguson Stock Performance

Ferguson stock opened at $240.83 on Friday. The business has a 50 day moving average of $239.08 and a 200-day moving average of $240.15. The company has a market capitalization of $46.71 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.68 and a beta of 1.15. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96.

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. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The business had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the business earned $2.50 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. On average, equities research analysts predict that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership 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 paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their target price on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.58.

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.