Van Lanschot Kempen Investment Management N.V. Sells 4,584 Shares of Ferguson plc $FERG

Van Lanschot Kempen Investment Management N.V. trimmed its holdings in shares of Ferguson plc (NYSE:FERG) by 5.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 77,392 shares of the company’s stock after selling 4,584 shares during the quarter. Van Lanschot Kempen Investment Management N.V.’s holdings in Ferguson were worth $17,230,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Atria Investments Inc increased its holdings in Ferguson by 38.2% in the 3rd quarter. Atria Investments Inc now owns 15,401 shares of the company’s stock valued at $3,459,000 after buying an additional 4,259 shares during the period. Kinetic Partners Management LP raised its position in shares of Ferguson by 53.4% in the 3rd quarter. Kinetic Partners Management LP now owns 349,000 shares of the company’s stock valued at $78,378,000 after buying an additional 121,500 shares in the last quarter. Cibc World Market Inc. raised its position in shares of Ferguson by 79.6% in the 3rd quarter. Cibc World Market Inc. now owns 12,328 shares of the company’s stock valued at $2,769,000 after buying an additional 5,463 shares in the last quarter. Clifford Swan Investment Counsel LLC raised its position in shares of Ferguson by 3.0% in the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 74,900 shares of the company’s stock valued at $16,821,000 after buying an additional 2,208 shares in the last quarter. Finally, Fieldview Capital Management LLC acquired a new position in shares of Ferguson in the 3rd quarter valued at approximately $3,258,000. 81.98% of the stock is owned by institutional investors.

Ferguson Trading Up 0.9%

FERG opened at $230.13 on Friday. The company’s 50 day moving average is $240.99 and its 200-day moving average is $241.08. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The company has a current ratio of 1.78, a quick ratio of 0.96 and a debt-to-equity ratio of 0.68. The company has a market cap of $44.63 billion, a P/E ratio of 26.76, a PEG ratio of 1.61 and a beta of 1.15.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share 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 for the quarter. During the same quarter in the previous year, the business posted $2.50 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts predict that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson announced that its board has authorized a share repurchase plan on Tuesday, May 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management 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 is Friday, May 15th. Ferguson’s dividend payout ratio (DPR) is presently 41.40%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on FERG shares. Wells Fargo & Company boosted their target price 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. Jefferies Financial Group restated a “buy” rating and issued a $300.00 target price on shares of Ferguson in a research report on Tuesday, February 24th. Barclays boosted their target price on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Royal Bank Of Canada boosted 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, Weiss Ratings cut shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Ferguson currently has a consensus rating of “Moderate Buy” and an average price target of $277.77.

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.