Corient Private Wealth LLC Cuts Holdings in Ferguson plc $FERG

Corient Private Wealth LLC decreased its holdings in Ferguson plc (NYSE:FERG) by 77.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,134 shares of the company’s stock after selling 51,304 shares during the period. Corient Private Wealth LLC’s holdings in Ferguson were worth $3,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in Ferguson by 150.8% during the 4th quarter. Wellington Management Group LLP now owns 9,366,465 shares of the company’s stock valued at $2,085,256,000 after acquiring an additional 5,631,554 shares in the last quarter. Norges Bank bought a new position in shares of Ferguson in the 4th quarter worth $498,005,000. Durable Capital Partners LP bought a new position in shares of Ferguson in the 3rd quarter worth $244,561,000. Qube Research & Technologies Ltd lifted its stake in shares of Ferguson by 588.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,087,523 shares of the company’s stock worth $244,236,000 after purchasing an additional 929,475 shares during the last quarter. Finally, 59 North Capital Management LP lifted its stake in shares of Ferguson by 114.7% during the 3rd quarter. 59 North Capital Management LP now owns 1,255,137 shares of the company’s stock worth $281,879,000 after purchasing an additional 670,473 shares during the last quarter. Hedge funds and other institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wells Fargo & Company lifted their target price on Ferguson from $260.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Ferguson from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 20th. Barclays raised their price target on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Citigroup reaffirmed a “neutral” rating on shares of Ferguson in a research report on Wednesday, May 6th. Finally, Royal Bank Of Canada boosted their price objective on shares of Ferguson from $271.00 to $281.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $277.58.

Ferguson Stock Down 1.1%

Shares of FERG stock opened at $238.08 on Friday. Ferguson plc has a 1-year low of $207.64 and a 1-year high of $271.64. The stock’s fifty day moving average price is $238.71 and its 200 day moving average price is $240.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.78 and a quick ratio of 0.96. The company has a market cap of $46.17 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

Ferguson (NYSE:FERG) last announced its 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 company had revenue of $7.47 billion for the quarter. During the same period in the prior year, the company earned $2.50 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts expect that Ferguson plc will post 11.26 earnings per share for the current fiscal year.

Ferguson Dividend Announcement

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

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