Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys 2,693 Shares of Ferguson plc $FERG

Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Ferguson plc (NYSE:FERG) by 32.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,030 shares of the company’s stock after acquiring an additional 2,693 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Ferguson were worth $2,573,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Leonteq Securities AG bought a new position in Ferguson in the fourth quarter valued at about $26,000. Basepoint Wealth LLC purchased a new stake in Ferguson in the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division bought a new stake in Ferguson during the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Ferguson during the 3rd quarter worth approximately $28,000. Finally, Grove Bank & Trust lifted its holdings in Ferguson by 154.4% during the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock valued at $32,000 after purchasing an additional 88 shares in the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FERG shares. Wells Fargo & Company upped their price objective on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Citigroup reiterated 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 report on Wednesday, May 6th. Weiss Ratings raised shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Finally, Barclays lifted their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued 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 $277.58.

Ferguson Trading Down 0.0%

FERG opened at $230.22 on Friday. The stock’s 50 day moving average price is $235.86 and its 200-day moving average price is $240.20. The stock has a market cap of $44.65 billion, a price-to-earnings ratio of 26.77, a P/E/G ratio of 1.63 and a beta of 1.13. 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 plc has a one year low of $207.64 and a one year high of $271.64.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The firm 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%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.50 earnings per share. On average, equities analysts forecast that Ferguson plc will post 11.26 EPS for the current year.

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

Ferguson Announces Dividend

The company 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. The ex-dividend date of this dividend is Friday, May 15th. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio is presently 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.