Magnetar Financial LLC Sells 6,758 Shares of Ferguson plc $FERG

Magnetar Financial LLC cut its stake in Ferguson plc (NYSE:FERG) by 24.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,367 shares of the company’s stock after selling 6,758 shares during the period. Magnetar Financial LLC’s holdings in Ferguson were worth $4,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Basepoint Wealth LLC bought a new stake in shares of Ferguson during the fourth quarter worth $26,000. Leonteq Securities AG bought a new stake in shares of Ferguson during the fourth quarter worth $26,000. Central Pacific Bank Trust Division bought a new stake in shares of Ferguson during the fourth quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Ferguson during the third quarter worth $28,000. Finally, Zions Bancorporation National Association UT raised its position in shares of Ferguson by 123.4% during the fourth 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. 81.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Royal Bank Of Canada boosted their target price on Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 6th. Citigroup restated a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Weiss Ratings downgraded Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Barclays upped their price objective on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, UBS Group upped their price objective on Ferguson from $220.00 to $252.00 and gave the company a “neutral” rating in a report on Wednesday, February 25th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Ferguson currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.77.

Ferguson Stock Performance

Shares of NYSE:FERG opened at $234.94 on Wednesday. The company has a market capitalization of $45.56 billion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 1.67 and a beta of 1.15. The firm’s 50 day simple moving average is $240.99 and its 200 day simple moving average is $240.86. 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 fifty-two week low of $207.64 and a fifty-two week high of $271.64.

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

Ferguson announced that its Board of Directors has initiated a stock repurchase program on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to purchase up to 3.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Friday, May 15th will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Friday, May 15th. Ferguson’s dividend payout ratio is 41.40%.

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.