Munich Reinsurance Co Stock Corp in Munich Has $74.22 Million Position in Ferguson plc $FERG

Munich Reinsurance Co Stock Corp in Munich boosted its holdings in shares of Ferguson plc (NYSE:FERG) by 0.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 318,599 shares of the company’s stock after purchasing an additional 2,369 shares during the period. Ferguson comprises approximately 1.8% of Munich Reinsurance Co Stock Corp in Munich’s investment portfolio, making the stock its 18th biggest position. Munich Reinsurance Co Stock Corp in Munich’s holdings in Ferguson were worth $74,216,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FERG. Leonteq Securities AG acquired a new position in shares of Ferguson during the 4th quarter worth $26,000. Basepoint Wealth LLC acquired a new stake in shares of Ferguson in the 4th quarter valued at $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Ferguson in the 4th quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Ferguson in the third quarter worth $28,000. Finally, Grove Bank & Trust boosted its holdings in Ferguson by 154.4% in the fourth quarter. Grove Bank & Trust now owns 145 shares of the company’s stock worth $32,000 after purchasing an additional 88 shares in the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on FERG. Barclays increased their target price 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. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $315.00 to $265.00 in a research note on Monday. Royal Bank Of Canada increased their price objective on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Weiss Ratings raised Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company boosted their target price on Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating 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 six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $276.61.

Ferguson Stock Performance

Shares of FERG opened at $221.64 on Thursday. The company has a market capitalization of $42.98 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.58 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. Ferguson plc has a one year low of $207.64 and a one year high of $271.64. The company’s fifty day moving average price is $233.52 and its 200 day moving average price is $240.29.

Ferguson (NYSE:FERG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.The business had revenue of $7.47 billion for the quarter. During the same quarter in the previous year, the firm posted $2.50 earnings per share. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts expect that Ferguson plc will post 11.26 earnings per share for the current year.

Ferguson Announces Dividend

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

Ferguson announced that its Board of Directors has initiated a stock repurchase program 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 programs are usually an indication that the company’s management believes its stock is 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.