Ferguson plc $FERG Shares Bought by Man Group plc

Man Group plc grew its holdings in Ferguson plc (NYSE:FERG) by 613.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 401,395 shares of the company’s stock after buying an additional 345,165 shares during the quarter. Man Group plc’s holdings in Ferguson were worth $95,263,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Leonteq Securities AG acquired a new stake in Ferguson in the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in Ferguson during the fourth quarter worth $26,000. Compass Financial Management LLC purchased a new position in Ferguson during the second quarter valued at $32,000. Zions Bancorporation National Association UT lifted its holdings in Ferguson by 123.4% during the fourth quarter. Zions Bancorporation National Association UT now owns 143 shares of the company’s stock valued at $32,000 after purchasing an additional 79 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Ferguson in the third quarter valued at about $34,000. 81.98% of the stock is owned by institutional investors and hedge funds.

Ferguson Trading Down 1.6%

Shares of FERG opened at $232.66 on Wednesday. Ferguson plc has a 52-week low of $207.64 and a 52-week high of $271.64. The company has a quick ratio of 0.93, a current ratio of 1.73 and a debt-to-equity ratio of 0.72. The firm’s fifty day moving average is $237.14 and its two-hundred day moving average is $240.04. The stock has a market cap of $45.01 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.64 and a beta of 1.14.

Ferguson (NYSE:FERG) last issued its earnings results on Monday, August 10th. The company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.23 by $0.16. The business had revenue of $8.75 billion during the quarter. Ferguson had a net margin of 6.82% and a return on equity of 37.24%. Research analysts forecast that Ferguson plc will post 11.42 earnings per share for the current fiscal year.

Ferguson announced that its board has approved a share buyback plan on Tuesday, May 5th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to buy up to 3.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Ferguson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Friday, August 21st will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 21st. Ferguson’s dividend payout ratio is currently 41.83%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. UBS Group boosted their target price on shares of Ferguson from $252.00 to $256.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Robert W. Baird raised their price target on shares of Ferguson from $285.00 to $288.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Barclays lifted their price objective on Ferguson from $297.00 to $313.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Citigroup reiterated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $261.00 target price on shares of Ferguson in a report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.93.

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.