Royal Bank of Canada Has $475.56 Million Stock Holdings in Ferguson plc $FERG

Royal Bank of Canada trimmed its holdings in shares of Ferguson plc (NYSE:FERG) by 4.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,038,769 shares of the company’s stock after selling 95,808 shares during the period. Royal Bank of Canada’s holdings in Ferguson were worth $475,564,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Ferguson by 23.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after purchasing an additional 2,940 shares in the last quarter. Caxton Associates LLP acquired a new stake in Ferguson during the first quarter valued at approximately $310,000. Focus Partners Wealth grew its stake in shares of Ferguson by 22.7% in the 1st quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock valued at $503,000 after purchasing an additional 581 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Ferguson in the 2nd quarter valued at approximately $257,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Ferguson by 7.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 690 shares of the company’s stock worth $150,000 after buying an additional 48 shares in the last quarter. Institutional investors own 81.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on FERG. Royal Bank Of Canada boosted their price target on Ferguson from $271.00 to $281.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Zelman & Associates raised Ferguson from a “hold” rating to an “outperform” rating and set a $285.00 price objective for the company in a report on Friday, July 17th. Barclays boosted their target price on shares of Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Wells Fargo & Company upped their target price on shares of Ferguson from $260.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings upgraded shares of Ferguson from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Ferguson presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.21.

Ferguson Trading Down 0.6%

FERG stock opened at $232.69 on Wednesday. The business has a fifty day moving average of $230.32 and a 200-day moving average of $240.67. The company has a market cap of $45.13 billion, a P/E ratio of 27.06, a PEG ratio of 1.66 and a beta of 1.13. Ferguson plc has a twelve month low of $207.64 and a twelve month high of $271.64. The company has a quick ratio of 0.96, a current ratio of 1.78 and a debt-to-equity ratio of 0.68.

Ferguson (NYSE:FERG) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.14. The firm had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.81% and a net margin of 6.98%.Ferguson’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 earnings per share. As a group, equities research analysts expect that Ferguson plc will post 11.25 EPS for the current year.

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

Ferguson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th were given a dividend of $0.89 per share. The ex-dividend date was Friday, May 15th. This represents a $3.56 annualized dividend and a dividend yield of 1.5%. Ferguson’s payout ratio is currently 41.40%.

About Ferguson

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.