Ferguson plc $FERG Stock Holdings Lessened by Bank of Nova Scotia

Bank of Nova Scotia lessened its stake in shares of Ferguson plc (NYSE:FERG) by 20.1% in the first quarter, Holdings Channel.com reports. The fund owned 27,916 shares of the company’s stock after selling 7,035 shares during the quarter. Bank of Nova Scotia’s holdings in Ferguson were worth $6,512,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Leonteq Securities AG acquired a new position in shares of Ferguson in the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new stake in shares of Ferguson during the fourth quarter valued at approximately $26,000. Zions Bancorporation National Association UT lifted its position in shares of Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after acquiring an additional 79 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Ferguson in the 3rd quarter valued at approximately $34,000. Finally, Cornerstone Planning Group LLC boosted its stake in Ferguson by 53.9% in the 4th quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock worth $44,000 after purchasing an additional 69 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Up 1.4%

Ferguson stock opened at $233.79 on Tuesday. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.96 and a current ratio of 1.78. The firm has a market cap of $45.34 billion, a PE ratio of 27.19, a P/E/G ratio of 1.63 and a beta of 1.13. The firm’s 50 day moving average price is $230.08 and its two-hundred day moving average price is $240.59.

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. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company had revenue of $7.47 billion during the quarter. During the same period last year, the business earned $2.50 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts predict that Ferguson plc will post 11.3 EPS for the current fiscal year.

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

Ferguson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Investors 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 1.5%. The ex-dividend date was Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is currently 41.40%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FERG. The Goldman Sachs Group cut shares of Ferguson from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $315.00 to $265.00 in a research report on Monday, July 6th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Royal Bank Of Canada lifted their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Barclays upped their price target on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company increased 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.