ABN Amro Investment Solutions Has $42.21 Million Stake in Ferguson plc $FERG

ABN Amro Investment Solutions grew its stake in Ferguson plc (NYSE:FERG) by 3.8% during the first quarter, HoldingsChannel reports. The firm owned 180,954 shares of the company’s stock after buying an additional 6,611 shares during the quarter. ABN Amro Investment Solutions’ holdings in Ferguson were worth $42,209,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Basepoint Wealth LLC bought a new stake in Ferguson during the 4th quarter worth $26,000. Leonteq Securities AG bought a new position in Ferguson in the fourth quarter valued at about $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Ferguson during the fourth quarter valued at about $27,000. Zions Bancorporation National Association UT boosted its stake in shares of Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Ferguson during the third quarter worth about $34,000. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $315.00 to $265.00 in a research note on Monday, July 6th. Wells Fargo & Company lifted their target price on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada boosted their target price on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a report on Wednesday, May 6th. Zelman & Associates upgraded shares of Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price target for the company in a research report on Friday, July 17th. Finally, Barclays raised their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.21.

Ferguson Price Performance

Shares of FERG 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. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The company has a market capitalization of $43.88 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, beating 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 business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.50 earnings per share. As a group, equities research analysts anticipate that Ferguson plc will post 11.27 earnings per share for the current year.

Ferguson Dividend Announcement

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

Ferguson declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to buy up to 3.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.