Ferguson plc $FERG Stake Raised by W1M Asset Management Ltd

W1M Asset Management Ltd increased its position in Ferguson plc (NYSE:FERG) by 6.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,980,510 shares of the company’s stock after purchasing an additional 116,418 shares during the period. Ferguson makes up approximately 4.3% of W1M Asset Management Ltd’s holdings, making the stock its 10th biggest position. W1M Asset Management Ltd owned 1.02% of Ferguson worth $469,945,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FERG. Leonteq Securities AG purchased a new position in Ferguson in the fourth quarter worth about $26,000. Basepoint Wealth LLC bought a new stake in shares of Ferguson during the fourth quarter valued at approximately $26,000. Zions Bancorporation National Association UT raised its holdings in Ferguson by 123.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock worth $32,000 after acquiring an additional 79 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Ferguson in the 3rd quarter worth approximately $34,000. Finally, Eastern Bank bought a new position in Ferguson in the 2nd quarter valued at approximately $42,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays lifted their target price on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. UBS Group increased their price objective on Ferguson from $252.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group downgraded Ferguson from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $315.00 to $265.00 in a report on Monday, July 6th. Sanford C. Bernstein upped their target price on shares of Ferguson from $310.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Finally, 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 note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $285.93.

Ferguson Trading Up 1.2%

Shares of NYSE:FERG opened at $242.36 on Friday. The stock’s 50-day simple moving average is $237.18 and its two-hundred day simple moving average is $240.50. The stock has a market capitalization of $46.88 billion, a price-to-earnings ratio of 28.48, a PEG ratio of 1.68 and a beta of 1.14. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.93 and a current ratio of 1.73.

Ferguson (NYSE:FERG) last released its quarterly earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.23 by $0.16. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. The firm had revenue of $8.75 billion during the quarter. Analysts expect that Ferguson plc will post 11.42 EPS for the current year.

Ferguson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Friday, August 21st will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, August 21st. Ferguson’s dividend payout ratio (DPR) is currently 41.83%.

Ferguson declared that its Board of Directors has initiated a share buyback plan on Tuesday, May 5th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Ferguson 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.