Fjarde AP Fonden Fourth Swedish National Pension Fund Increases Stake in Ferguson plc $FERG

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Ferguson plc (NYSE:FERG) by 58.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,957 shares of the company’s stock after buying an additional 32,050 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Ferguson were worth $20,284,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FERG. Leonteq Securities AG bought a new stake in shares of Ferguson in the fourth quarter valued at about $26,000. Basepoint Wealth LLC purchased a new position in shares of Ferguson in the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Ferguson during the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Ferguson in the 3rd quarter worth $28,000. Finally, Grove Bank & Trust boosted its position in shares of Ferguson by 154.4% in the 4th quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Performance

NYSE FERG opened at $230.22 on Friday. The firm has a market capitalization of $44.65 billion, a P/E ratio of 26.77, a PEG ratio of 1.63 and a beta of 1.13. The stock has a 50-day simple moving average of $235.86 and a two-hundred day simple moving average of $240.20. 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 fifty-two week low of $207.64 and a fifty-two week high of $271.64.

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

Ferguson declared that its board has initiated a stock repurchase plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Ferguson Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FERG shares. Barclays raised their target price on Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings upgraded Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday. Wells Fargo & Company lifted their target price on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada increased their price target on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. One investment analyst has 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. According to data from MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and an average price target of $277.58.

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.