KLP Kapitalforvaltning AS Reduces Holdings in Ferguson plc $FERG

KLP Kapitalforvaltning AS trimmed its holdings in shares of Ferguson plc (NYSE:FERG) by 23.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,144 shares of the company’s stock after selling 22,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in Ferguson were worth $16,061,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division purchased a new position in shares of Ferguson during the 4th quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Ferguson during the 3rd quarter worth approximately $28,000. Cornerstone Planning Group LLC increased its stake in shares of Ferguson by 178.3% during the 3rd quarter. Cornerstone Planning Group LLC now owns 128 shares of the company’s stock worth $31,000 after purchasing an additional 82 shares in the last quarter. Grove Bank & Trust increased its stake in shares of Ferguson by 154.4% during the 4th 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. Finally, Johnson Financial Group Inc. purchased a new position in shares of Ferguson during the 3rd quarter worth approximately $34,000. 81.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FERG. Morgan Stanley reissued an “overweight” rating on shares of Ferguson in a research note on Tuesday, January 6th. Jefferies Financial Group restated a “buy” rating and set a $300.00 target price on shares of Ferguson in a research report on Tuesday, February 24th. Weiss Ratings upgraded shares of Ferguson from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Wells Fargo & Company decreased their target price on shares of Ferguson from $285.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Finally, Royal Bank Of Canada raised their target price on shares of Ferguson from $247.00 to $271.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $267.27.

Ferguson News Roundup

Here are the key news stories impacting Ferguson this week:

• Positive Sentiment: Barron’s publishes a bullish take arguing Ferguson is still “too cheap,” estimating roughly 25% upside over the next 12–18 months; this can attract buyers and support upside given Ferguson’s strong market position and steady cash flows. This Plumbing Supplier’s Stock Is Still Too Cheap
• Neutral Sentiment: Most other headlines in the list refer to people, places or local government matters named “Ferguson” (city council tax-break votes, political stories, entertainment pieces) and are not related to Ferguson plc’s business fundamentals—these are noise for FERG equity. Examples: Baltimore Sun (local political controversy), Fox2Now (city council data-center tax breaks), IBTimes (personal finance story about Sarah Ferguson). Ferguson criticizes Baltimore IG apology in post controversy; Conway raises concerns Ferguson City Council to vote on tax breaks for possible data center Is Sarah Ferguson Broke?
• Negative Sentiment: Recent company results (Feb. quarter) showed an EPS miss versus consensus and only modest revenue growth; that earnings disappointment remains a near-term risk to sentiment and could cap gains if future beats don’t materialize. (See company filings and prior earnings release.)

Ferguson Stock Up 0.5%

Shares of NYSE FERG opened at $263.32 on Friday. Ferguson plc has a 1 year low of $162.53 and a 1 year high of $271.64. The firm’s 50 day moving average price is $243.73 and its 200 day moving average price is $242.74. The firm has a market cap of $51.19 billion, a P/E ratio of 26.60, a price-to-earnings-growth ratio of 2.13 and a beta of 1.21. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.88.

Ferguson (NYSE:FERG) last announced its earnings results on Tuesday, February 24th. The company reported $1.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.24 by ($0.25). Ferguson had a return on equity of 40.37% and a net margin of 6.93%.During the same quarter last year, the business posted $1.52 EPS. Ferguson’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Ferguson plc will post 11.14 earnings per share for the current year.

Ferguson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Friday, March 6th will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, March 6th. Ferguson’s dividend payout ratio (DPR) is 35.96%.

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.