Diamond Hill Capital Management Inc. Sells 563,831 Shares of Ferguson plc $FERG

Diamond Hill Capital Management Inc. lowered its stake in shares of Ferguson plc (NYSE:FERG) by 36.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 978,046 shares of the company’s stock after selling 563,831 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Ferguson were worth $217,742,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FERG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Ferguson by 23.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,262 shares of the company’s stock worth $2,445,000 after buying an additional 2,940 shares in the last quarter. Caxton Associates LLP bought a new stake in Ferguson during the first quarter worth $310,000. Focus Partners Wealth grew its holdings in Ferguson by 22.7% during the first quarter. Focus Partners Wealth now owns 3,140 shares of the company’s stock worth $503,000 after buying an additional 581 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Ferguson during the second quarter worth $257,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Ferguson by 7.5% during the second 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.

Ferguson Stock Down 0.8%

Shares of NYSE:FERG opened at $223.93 on Friday. The company has a market capitalization of $43.43 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 1.60 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.88 and a quick ratio of 1.01. The business has a fifty day moving average price of $240.29 and a two-hundred day moving average price of $242.95. Ferguson plc has a 1 year low of $176.26 and a 1 year high of $271.64.

Ferguson (NYSE:FERG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.14. The company had revenue of $7.47 billion during the quarter. Ferguson had a return on equity of 38.92% and a net margin of 6.98%.The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 EPS. Analysts forecast that Ferguson plc will post 11.25 earnings per share for the current year.

Ferguson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Friday, May 15th will be paid 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 1.6%. Ferguson’s dividend payout ratio is presently 41.40%.

Ferguson declared that its board has authorized a stock repurchase program on Tuesday, May 5th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

FERG has been the subject of several recent research reports. Truist Financial upped their price target on Ferguson from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. UBS Group upped their price target on Ferguson from $220.00 to $252.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. Citigroup restated a “neutral” rating on shares of Ferguson in a research note on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and issued a $300.00 price objective on shares of Ferguson in a research note on Tuesday, February 24th. Finally, Barclays upped their price objective on Ferguson from $295.00 to $297.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Two investment 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $269.73.

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.