iA Global Asset Management Inc. Invests $1.81 Million in Ferguson plc $FERG

iA Global Asset Management Inc. purchased a new stake in Ferguson plc (NYSE:FERG) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,774 shares of the company’s stock, valued at approximately $1,813,000.

A number of other large investors have also made changes to their positions in FERG. Leonteq Securities AG purchased a new position in Ferguson during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new position in Ferguson during the fourth quarter worth $26,000. Central Pacific Bank Trust Division purchased a new stake in Ferguson in the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Ferguson in the 3rd quarter valued at $28,000. Finally, Grove Bank & Trust grew its holdings in 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 buying an additional 88 shares in the last quarter. 81.98% of the stock is currently owned by hedge funds and other institutional investors.

Ferguson Stock Up 0.4%

Shares of FERG opened at $230.22 on Friday. The firm has a market cap of $44.65 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. Ferguson plc has a 12-month low of $207.64 and a 12-month high of $271.64. The company’s 50-day moving average price is $236.50 and its 200 day moving average price is $240.27. 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 (NYSE:FERG) last posted its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.14. The company had revenue of $7.47 billion for the quarter. Ferguson had a net margin of 6.98% and a return on equity of 38.81%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. On average, sell-side analysts forecast that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson declared that its board has authorized a share buyback program 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be paid 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 of this dividend is Friday, May 15th. Ferguson’s payout ratio is 41.40%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their price target on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Barclays boosted their target price on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wells Fargo & Company raised their price target on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Citigroup reiterated a “neutral” rating on shares of Ferguson in a report on Wednesday, May 6th. One research analyst has 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.58.

Ferguson Company 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.