University of Texas Texas AM Investment Management Co. Sells 3,411 Shares of Ferguson plc $FERG

University of Texas Texas AM Investment Management Co. cut its holdings in shares of Ferguson plc (NYSE:FERG) by 52.1% during the 4th quarter, Holdings Channel reports. The firm owned 3,134 shares of the company’s stock after selling 3,411 shares during the period. University of Texas Texas AM Investment Management Co.’s holdings in Ferguson were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Silvant Capital Management LLC increased its holdings in shares of Ferguson by 1.6% during the fourth quarter. Silvant Capital Management LLC now owns 18,507 shares of the company’s stock worth $4,120,000 after purchasing an additional 297 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Ferguson by 0.6% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 29,512 shares of the company’s stock worth $6,570,000 after purchasing an additional 189 shares during the period. MML Investors Services LLC increased its holdings in shares of Ferguson by 10.9% during the fourth quarter. MML Investors Services LLC now owns 33,978 shares of the company’s stock worth $7,565,000 after purchasing an additional 3,345 shares during the period. Focus Partners Wealth increased its holdings in shares of Ferguson by 20.7% during the fourth quarter. Focus Partners Wealth now owns 7,857 shares of the company’s stock worth $1,750,000 after purchasing an additional 1,345 shares during the period. Finally, Giverny Capital Inc. increased its holdings in shares of Ferguson by 2.5% during the fourth quarter. Giverny Capital Inc. now owns 36,374 shares of the company’s stock worth $8,098,000 after purchasing an additional 871 shares during the period. 81.98% of the stock is owned by institutional investors.

Ferguson Stock Performance

NYSE FERG opened at $235.78 on Tuesday. 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 firm has a market capitalization of $45.73 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 1.63 and a beta of 1.15. The firm’s 50 day simple moving average is $241.00 and its 200 day simple moving average is $240.99. Ferguson plc has a 1 year low of $207.64 and a 1 year high of $271.64.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share (EPS) 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 net margin of 6.98% and a return on equity of 38.81%. The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.50 EPS. As a group, research analysts expect that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson announced that its Board of Directors 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 buy 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be given a dividend of $0.89 per share. The ex-dividend date is Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s dividend payout ratio (DPR) is currently 41.40%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays raised their target price on shares of Ferguson from $295.00 to $297.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Royal Bank Of Canada raised 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. 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. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Truist Financial increased their price target on shares of Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $277.77.

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.