Baader Bank Aktiengesellschaft Lowers Holdings in Ferguson plc $FERG

Baader Bank Aktiengesellschaft trimmed its stake in Ferguson plc (NYSE:FERG) by 5.9% during the 1st quarter, HoldingsChannel reports. The fund owned 47,978 shares of the company’s stock after selling 3,022 shares during the quarter. Ferguson comprises 0.9% of Baader Bank Aktiengesellschaft’s holdings, making the stock its 22nd biggest position. Baader Bank Aktiengesellschaft’s holdings in Ferguson were worth $11,191,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FERG. Vanguard Group Inc. increased its holdings in shares of Ferguson by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 19,418,334 shares of the company’s stock valued at $4,323,104,000 after acquiring an additional 102,850 shares in the last quarter. Wellington Management Group LLP boosted its stake in Ferguson by 150.8% in the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock worth $2,085,256,000 after purchasing an additional 5,631,554 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Ferguson by 7.8% in the 4th quarter. Janus Henderson Group PLC now owns 5,981,791 shares of the company’s stock worth $1,331,621,000 after purchasing an additional 434,650 shares in the last quarter. State Street Corp grew its position in Ferguson by 1.8% during the 4th quarter. State Street Corp now owns 4,516,764 shares of the company’s stock valued at $1,005,567,000 after purchasing an additional 79,296 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Ferguson by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,393,603 shares of the company’s stock valued at $977,959,000 after purchasing an additional 25,785 shares during the last quarter. 81.98% of the stock is owned by hedge funds and other institutional investors.

Ferguson Stock Down 1.3%

FERG opened at $229.04 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average price of $230.04 and a 200-day moving average price of $240.41. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The stock has a market capitalization of $44.42 billion, a price-to-earnings ratio of 26.63, a PEG ratio of 1.64 and a beta of 1.13.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (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 company had revenue of $7.47 billion for the quarter. During the same quarter in the prior year, the business posted $2.50 EPS. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts forecast that Ferguson plc will post 11.27 earnings per share for the current year.

Ferguson announced that its Board of Directors has approved a stock buyback program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 3.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 15th. Ferguson’s dividend payout ratio is presently 41.40%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FERG shares. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. Royal Bank Of Canada increased their price target on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. The Goldman Sachs Group downgraded shares of Ferguson from a “buy” rating to a “neutral” rating and reduced their price target for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Finally, Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective 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 stock. According to data from MarketBeat, 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.