Fiera Capital Corp Increases Stake in Ferguson plc $FERG

Fiera Capital Corp grew its stake in Ferguson plc (NYSE:FERG) by 26.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,727 shares of the company’s stock after purchasing an additional 6,672 shares during the period. Fiera Capital Corp’s holdings in Ferguson were worth $7,063,000 at the end of the most recent quarter.

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

Ferguson Stock Up 4.6%

Shares of NYSE FERG opened at $234.62 on Wednesday. The stock has a market cap of $45.50 billion, a PE ratio of 27.28, a P/E/G ratio of 1.59 and a beta of 1.15. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The company has a 50-day moving average of $241.26 and a 200 day moving average of $241.27.

Ferguson (NYSE:FERG) last issued its earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.14. The business 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 company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 earnings per share. As a group, sell-side analysts predict that Ferguson plc will post 11.26 EPS for the current fiscal year.

Ferguson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio is presently 41.40%.

Ferguson declared that its board has approved a stock repurchase program on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 3.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on FERG shares. Jefferies Financial Group reiterated a “buy” rating and set a $300.00 price target on shares of Ferguson in a research report on Tuesday, February 24th. UBS Group lifted their price target on shares of Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a research note on Wednesday, February 25th. Barclays upped their price objective on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Royal Bank Of Canada lifted their target price on shares of Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company boosted their target price on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Ferguson presently has an average rating of “Moderate Buy” and an average target price of $277.77.

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.