Ferguson plc $FERG Shares Sold by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp reduced its position in Ferguson plc (NYSE:FERG) by 18.5% in the 2nd quarter, Holdings Channel reports. The firm owned 14,214 shares of the company’s stock after selling 3,230 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Ferguson were worth $3,373,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ferguson by 23.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock valued at $2,445,000 after buying an additional 2,940 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Ferguson in the first quarter worth about $310,000. Focus Partners Wealth boosted its position in Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after acquiring an additional 581 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Ferguson during the second quarter worth about $257,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in Ferguson by 7.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock valued at $150,000 after acquiring an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Ferguson Trading Down 1.6%

NYSE FERG opened at $232.66 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.73 and a quick ratio of 0.93. The stock has a market capitalization of $45.01 billion, a P/E ratio of 27.34, a PEG ratio of 1.64 and a beta of 1.14. The firm’s 50-day moving average is $237.14 and its two-hundred day moving average is $240.04. Ferguson plc has a 12 month low of $207.64 and a 12 month high of $271.64.

Ferguson (NYSE:FERG) last announced its quarterly earnings results on Monday, August 10th. The company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The business had revenue of $8.75 billion during the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. On average, sell-side analysts anticipate that Ferguson plc will post 11.42 earnings per share for the current year.

Ferguson declared that its board has approved a share repurchase program on Tuesday, May 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Ferguson Dividend Announcement

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

Wall Street Analyst Weigh In

FERG has been the topic of a number of research reports. Citigroup reissued a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. The Goldman Sachs Group lowered Ferguson from a “buy” rating to a “neutral” rating and dropped their price target for the company from $315.00 to $265.00 in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $261.00 price target on shares of Ferguson in a report on Tuesday, August 18th. Royal Bank Of Canada lifted their price objective on Ferguson from $281.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Finally, Sanford C. Bernstein boosted their price objective on Ferguson from $310.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Ferguson currently has an average rating of “Moderate Buy” and a consensus price target of $285.93.

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.