Andra AP fonden Lowers Position in Ferguson plc $FERG

Andra AP fonden cut its holdings in shares of Ferguson plc (NYSE:FERG) by 28.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 52,300 shares of the company’s stock after selling 21,000 shares during the quarter. Andra AP fonden’s holdings in Ferguson were worth $12,199,000 at the end of the most recent reporting period.

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

Ferguson Price Performance

Shares of Ferguson stock opened at $226.28 on Wednesday. The business has a 50 day moving average of $229.80 and a 200 day moving average of $240.44. Ferguson plc has a 52 week low of $207.64 and a 52 week high of $271.64. The company has a market cap of $43.88 billion, a PE ratio of 26.31, a P/E/G ratio of 1.62 and a beta of 1.13. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last issued its quarterly 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 company 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 company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $2.50 earnings per share. As a group, equities research analysts forecast that Ferguson plc will post 11.27 earnings per share for the current year.

Ferguson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were given 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 was Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Ferguson announced that its board has initiated a share buyback program on Tuesday, May 5th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FERG shares. Royal Bank Of Canada upped their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research 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, July 2nd. Barclays upped their target price on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 target price on the stock in a research note on Friday, July 17th. Finally, Wells Fargo & Company boosted their price target on shares of Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $277.21.

Ferguson 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.