Ferguson plc $FERG Shares Sold by National Pension Service

National Pension Service trimmed its position in shares of Ferguson plc (NYSE:FERG) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 297,887 shares of the company’s stock after selling 18,345 shares during the period. National Pension Service’s holdings in Ferguson were worth $66,319,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Leonteq Securities AG acquired a new stake in shares of Ferguson during the 4th quarter worth $26,000. Basepoint Wealth LLC acquired a new stake in shares of Ferguson during the 4th quarter worth $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Ferguson during the 4th quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Ferguson during the 3rd quarter worth $28,000. Finally, Cornerstone Planning Group LLC increased its holdings 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 buying an additional 82 shares during the last quarter. 81.98% of the stock is currently owned by institutional investors and hedge funds.

Ferguson Stock Down 0.3%

Shares of NYSE FERG opened at $225.88 on Friday. Ferguson plc has a 12-month low of $177.75 and a 12-month high of $271.64. The company has a market cap of $43.81 billion, a P/E ratio of 26.27, a P/E/G ratio of 1.60 and a beta of 1.23. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $240.53 and a 200 day moving average price of $242.07.

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

Ferguson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Investors of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 1.6%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio is currently 41.40%.

Ferguson declared that its board has authorized a share repurchase plan on Tuesday, May 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 3.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. UBS Group upped their price objective on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Wells Fargo & Company increased their price target on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Royal Bank Of Canada increased their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a report on Wednesday, May 6th. Finally, Truist Financial increased their price target on Ferguson from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $269.73.

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.