AIA Group Ltd Acquires 9,462 Shares of Ferguson plc $FERG

AIA Group Ltd lifted its holdings in shares of Ferguson plc (NYSE:FERG) by 30.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,869 shares of the company’s stock after purchasing an additional 9,462 shares during the quarter. AIA Group Ltd’s holdings in Ferguson were worth $9,533,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Basepoint Wealth LLC bought a new stake in shares of Ferguson during the 4th quarter worth approximately $26,000. Leonteq Securities AG bought a new stake in Ferguson during the 4th quarter worth $26,000. Central Pacific Bank Trust Division bought a new position in Ferguson in the fourth quarter valued at about $27,000. Zions Bancorporation National Association UT boosted its stake in shares of Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares in the last quarter. Finally, Grove Bank & Trust grew its holdings in shares of Ferguson by 154.4% during the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 81.98% of the company’s stock.

Ferguson Stock Down 1.2%

FERG stock opened at $231.39 on Friday. The stock’s 50 day simple moving average is $230.34 and its 200 day simple moving average is $240.30. The company has a market cap of $44.88 billion, a P/E ratio of 26.91, a price-to-earnings-growth ratio of 1.64 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 fifty-two week low of $207.64 and a fifty-two week high of $271.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 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 return on equity of 38.81% and a net margin of 6.98%.The company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $2.50 EPS. On average, research analysts expect that Ferguson plc will post 11.27 earnings per share for the current fiscal year.

Ferguson Announces Dividend

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

Ferguson declared that its board has initiated a share repurchase plan 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 plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on FERG shares. Barclays raised their price objective on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Wells Fargo & Company upped their target price on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and decreased their target price for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Finally, Zelman & Associates upgraded Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $277.21.

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.